Fintech giant One97 Communications Ltd, which owns the Paytm brand, has initiated undisclosed employee layoffs while simultaneously offering outplacement assistance for their smooth transition, according to a statement.
During the March quarter, Paytm observed a reduction of approximately 3,500 sales employees, bringing the total count to 36,521 individuals, primarily due to the ramifications of the Reserve Bank of India’s ban on Paytm Payments Bank services.
One97 Communications has affirmed its commitment to aiding resigned employees through outplacement support as part of the ongoing company restructuring.
In collaboration with more than 30 hiring entities, the company’s HR teams are actively engaged in assisting employees who have …
Read the full article at: https://www.ndtvprofit.com/markets/paytm-implements-employee-layoffs-amidst-business-restructuring