FinanceIN
Paytm Layoffs
May 2024
Paytm announced a layoff affecting 0 employees (3% of its workforce) in May 2024. The company operates in the Finance sector.
People Affected
0
Percentage
3%
Announced Date
May 8, 2024
About
Paytm warned of job cuts on Wednesday after reporting a widened net loss in the fourth quarter, as it grapples with a regulatory clampdown by India's central bank. The company expects to cut employee expenses and reduce annual staff costs by $48 million to $60 million, following a ban on its banking partner Paytm Payments Bank in February.
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