Paytm Lay off 2023 1000 people fired from job Know the reason

Paytm Layoff : The year 2023 appeared to be full of challenges for big tech and fintech companies. Especially in the case of layoffs of employees, the giants took strict steps. In this episode, a new name has been added, Paytm. Before the start of the new year, the company has given a big blow to its employees by ‘sword’ on more than 1000 jobs. According to a report, Paytm, owned by One 97 Communications, has laid off more than 1 thousand workers.

The Economic Times report states that Paytm is reorganizing all its businesses. It has done layoffs to reduce costs. The report also says that many more people may lose their jobs from Paytm in the coming time. The recent layoffs are the result of a few months and people have been fired from all units of Paytm.

This is said to be 10 percent of the total workforce of the company. This layoff is believed to be one of the biggest layoffs of the year 2023, which has been seen in any fintech company. The company has not said anything officially about this yet, but the report says that most of the layoffs will be from the loan business unit.

Other things related to Paytm News Talking about it, the company has changed the rules for giving personal loans under the Buy Now Pay Later (BNPL) service. The company gives personal loans and merchant loans under this facility, but now Paytm will not give loans of small amounts. According to a BT report, the company is going to focus its service on big loans. This will include personal and merchant loans of large amounts. This decision of the company will affect millions of people.