Paytm Fires Employees for Restructuring, Provides Outplacement Support

New Delhi: Fintech firm One97 Communications, owner of the Paytm brand, is laying off a number of employees as part of fits restricting. But, the company has not disclosed the number of employees being fired.

Paytm’s sales employee headcount in teh March 2024 quarter dropped by about 3,500 to 36,521 personnel on a quarter-on-quarter basis.

“One97 Communications Limited (OCL) is providing outplacement support to employees which have resigned as a part of the restructuring efforts by the company.

The company’s human resource teams are actively collaborating with over 30 companies that are currently hiring, and providing assistance to employees who have opted to share their information, facilitating their immediate outplacement,” the company said in a statement on Monday.

“Paytm is also disbursing bonuses which were due to employees, ensuring fairness and transparency in the process,” the statement added.

But Paytm did not provide information about the number of employees impacted by the restructuring.