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Paytm to reduce workforce by 15-20%, will implement AI to reduce costs

Paytm to reduce workforce by 15-20%, will implement AI to reduce costs
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India generalVijay shekhar sharmaPaytm payments bankShekhar sharmaReserve bank

Paytm Layoffs: Company Signals Potential Job Cuts Amid Sales Decline

Paytm CEO Vijay Shekhar Sharma informed shareholders that the company anticipates a short-term financial impact on revenue and profitability due to the disruptions experienced in Q4.

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Paytm CEO expects near-term financial impact due to disruptions in Q4, hints at AI-driven job cuts | Indiablooms

New Delhi/IBNS: Hinting at the likelihood of Artificial Intelligence (AI)-driven layoffs in the future, Paytm CEO Vijay Shekhar Sharma, in a letter to shareholders on Wednesday (May 22), said that the fintech company will focus on its core businesses and improve cost efficiencies to create a leaner organization.

Vijay shekhar sharmaShekhar sharmaReserve bank

Paytm s Loan Disbursals Rebound To Rs 20 Billion From Rs 9 Billion In April 2024: Report

The report highlighted that Paytm anticipates loan rates to stabilise between 3% to 3.5% in the long run.

Vijay shekhar sharmaPaytm payments bank limitedPaytm payment bank ltdTotal addressable marketShekhar sharmaEmployee stock ownership planMonthly transacting usersGross merchandise valueChief business officerOffline payments

Paytm Expected To Lay Off Employees After Reporting Loss In Q4

The company claims to continue rewarding high-performing talents by promoting them to leadership roles.

Vijay shekhar sharmaPaytm payments bank limitedCommunications ltd paytmShekhar sharma

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