Paytm confirms it can axe jobs to chop prices

By

Reuters

Revealed


Dec 26, 2023

One 97 Communications, mum or dad of fintech agency Paytm, on Monday confirmed a “slight discount” in its workforce as a part of cost-cutting measures, with out specifying quite a lot of jobs.

Paytm confirms it can axe jobs to chop prices – Reuters

An organization spokesperson, nonetheless, denied latest media stories which have prompt the non-bank lender might reduce greater than 1,000 roles.

“We can save 10-15% in worker prices as Synthetic Intelligence (AI) has delivered greater than we anticipated it to,” the spokesperson advised Reuters.

Paytm is overhauling its operations in an try to attain its first internet revenue since itemizing in November 2021.

Throughout its fiscal yr to end-March 2023, Paytm had a median of 32,798 straight employed employees and 1,589 contracted workers worldwide, throughout its varied models, its annual report confirmed.

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