{“data”:{“gallery”:[],”web_story”:[{“type”:”image”,”img_src”:”indianstartupnews/media/media_files/UPvYAnUFjHcGtGfS1L1j.png”,”title”:”Why Paytm fired over 1,000 employees? Know the key reasons”,”desc”:”n”,”cta_link”:””,”cta_text”:””},{“type”:”image”,”img_src”:”indianstartupnews/media/media_files/vnosuGdFVKNDQnRosKlD.png”,”title”:””,”desc”:”Vijay Shekhar Sharma-led fintech giant Paytm, the subsidiary of One 97 Communications, has undertaken a significant reduction in its workforce. n”,”cta_link”:””,”cta_text”:””},{“type”:”image”,”img_src”:”indianstartupnews/media/media_files/TV358ksySR3t2Ld4VPjn.png”,”title”:””,”desc”:”Over 1,000 employees across various departments have reportedly been laid off, impacting around 10% of the company’s total workforce. “,”cta_link”:””,”cta_text”:””},{“type”:”image”,”img_src”:”indianstartupnews/media/media_files/gRWkPKNFgKBO7jMGlZR2.jpg”,”title”:””,”desc”:”The layoffs have occurred over the past few months, affecting areas such as payments, lending, operations, and sales.”,”cta_link”:””,”cta_text”:””},{“type”:”image”,”img_src”:”indianstartupnews/media/media_files/vnosuGdFVKNDQnRosKlD.png”,”title”:”The reason behind the layoffs”,”desc”:”These layoffs is rooted in performance-related concerns and the company’s goal to improve profitability.”,”cta_link”:””,”cta_text”:””},{“type”:”image”,”img_src”:”indianstartupnews/media/media_files/s2v4X59smcbvfE4iikFN.png”,”title”:””,”desc”:”The layoffs coincide with Paytm’s withdrawal from small-ticket consumer lending and “buy now pay later” segments, following regulatory restrictions by the Reserve Bank of India (RBI). Despite a 32% growth in consolidated revenue, Paytm recorded a net loss in the recent fiscal quarter.nn”,”cta_link”:””,”cta_text”:””},{“type”:”image”,”img_src”:”indianstartupnews/media/media_files/Pwi0ktwnUJq3OLVXfuij.png”,”title”:””,”desc”:”To mitigate the impact of these layoffs, Paytm said it is incorporating AI-led automation, particularly in roles affected by the layoffs.”,”cta_link”:””,”cta_text”:””},{“type”:”image”,”img_src”:”indianstartupnews/media/media_files/3yWxwd4b9ZhPiJ96xkdL.png”,”title”:””,”desc”:”“We are transforming our operations with AI-powered automation to drive efficiency, eliminating repetitive tasks and roles to drive efficiency across growth and costs, resulting in a slight reduction in our workforce in operations and marketing,” said a company spokesperson.nn”,”cta_link”:””,”cta_text”:””},{“type”:”image”,”img_src”:”indianstartupnews/media/media_files/gYkSLJMx8hM5zTGa0cff.png”,”title”:””,”desc”:”The company believes it will be able to save 10-15% in employee costs as AI has delivered more than we expected it to.”,”cta_link”:””,”cta_text”:””}]},”content_html”:””,”template”:”1″,”story_animation”:”fly-in-bottom”}
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