Fitench gives employees the pink slip following the RBI's prohibition on Paytm Payments Bank services. Paytm Layoffs
In the March 2024 quarter, there were 36,521 total employees at Paytm, a decrease of about 3,500 from the previous quarter.
Paytm Layoffs: On June 10, the parent company of Paytm, One97 Communications, a fintech startup, announced the layoff of an unspecified number of workers. According to PTI, the organization said it is offering outplacement assistance to make sure the impacted parties have a smooth transition.
As to the statement, the Paytm sales division experienced a reduction of over 3,500 personnel, resulting in a total headcount of 36,521 during the March 2024 quarter. The Reserve Bank of India's (RBI) prohibition on services offered by Paytm Payments Bank is the main cause of this fall.
"One97 Communications Limited (OCL) is providing outplacement support to employees who have resigned as a part of the restructuring efforts by the company," the business said.
According to reports, Paytm's HR departments are helping over thirty hiring organizations right now by supporting workers who have opted to give their details for quick outplacement.
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