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In 50 Words: The layoffs could affect at least 10% of the Indian fintech firm’s total workforce, The Economics Times reported.
Indian fintech firm Paytm has laid off over 1,000 workers across its various units in the last few months to reduce costs and realign its businesses, sources told The Economic Times. The move, which could affect at least 10% of Paytm’s total headcount, comes after the firm exited the small-ticket consumer lending and buy now, pay later sectors amid the Reserve Bank of India’s crackdown on unsecured loans.
