One 97 Communications, the parent company of Paytm, has laid off over 1,000 employees across multiple units in a cost-cutting and business realignment move. The layoffs, impacting at least 10% of Paytm's overall workforce, occurred over the last few months. The publicly listed financial services firm is restructuring its various businesses to reduce costs.
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Paytm slashes 1,000 jobs after exiting lending, BNPL sectors https://t.co/69rlWas6BG
#Paytm cuts jobs across units, termed 'biggest startups layoffs on 2023' https://t.co/mAsX7b2BMI
I'M FEELING SPICY TODAY I'll say the quiet parts out loud: 1. Revenue per employee is going through the roof. What happens when tech companies need 10% or lower of the employees? Mass layoffs and less hiring. 2. Your big tech company job is at risk. If we’ve learned anything…
India's Paytm confirms it will axe jobs to cut costs https://t.co/QcZHz3koHg https://t.co/C5BhMqm9ym
India's Paytm confirms axing jobs in bid to cut costs https://t.co/l8s2DV193e https://t.co/gZtuaukOi2
#ICYMI - ETtech top stories of the day 🧵 One 97 Communications, parent of Paytm, has laid off more than 1,000 employees at multiple units. Read more 👇 https://t.co/Tzhpf43VgR By @PratikBhakta_89 & @samidhas https://t.co/3inN4bPzDu
Paytm fires over 1,000 employees across units This decision is expected to impact at least 10% of Paytm's overall workforce. Read: https://t.co/8fJI20qfC9 https://t.co/12D3OEjbif
🚨🚨Some big developments in the last week of 2023 covered exclusively by @ETtech 1. Among the biggest layoffs by a large Indian tech company, One97 Communications which runs Paytm has laid off around 1,000 employees as it looks to cut cost & realign its biz away from lending
🚨🚨 AM scoop: One 97 Communications, parent of @Paytm, has laid off more than 1,000 employees at multiple units. The publicly listed financial services firm is looking to cut costs as it realigns its various businesses. The job cuts took place over the last few months
The big tech pack of ‘FAAMNG’ companies in India, which is generally seen as shaping the talent trend for the rest of the tech cohort in the country, are in a near hiring pause amid the macroeconomic headwinds and global layoffs