Paytm Layoffs: 20% gone

Hi Guys, The management at Paytm has informed around 30-40 % will be laid off in May end. I will be affected by Paytm layoffs as list is being prepared. Any referrals/leads for backend software Engineer(tech stack Scala,Kafka,SQL,AWS ) would be helpful as I had joined Paytm as fresher last year.Total experience will be 1 year in June.

Heard that Paytm is planning to layoff 10% of entire work force. Across all levels. Heard cases that folks who were hired at market premium less than 30 days ago are now being asked to leave the organisation. And the layoffs will be hidden under the guise of mid year appraisals. #PaytmKaro

Paytm folks here - Is this true?

Given what RBI has gone today is effectively shut down 60-70% of Paytm’s business, to survive, Paytm will end up doing mass layoffs of a scale that we haven’t seen before in India. And potentially with limited severance (not as generous as what swiggy or Big tech has been doing) What would this mean for the rest of job market? So much unemployment in high earning folks, limited new jobs, means very tough competition for each opening and extremely bad situation in terms of appraisals and hikes too.

To all paytm folks and people having first hand knowledge of this matter: how true is the statement that the 1k layoffs are due to AI? or is it just a bs PR move to justify layoffs (like any other organisation)

Got to know today that Paytm is planning to shut down a couple of products. Accompanied by 30-40% layoffs accros teams and verticals and reducing the tech force to less than half, it feels like Vijay is done with the payment business. There is no clarity on the PA license either and VP level folks are being asked to put in papers.

Trying to reach people to speak on layoffs at Paytm. Please write to me at [email protected]. Thanks.

Heard that on 29 may, list of laid off employee will be released... is that true? I have no strong source to confirm this tho

HR is having 15-20 meets everyday, anyone can confirm with their calendar. Multiple HRs multiple laid off people. Zero severance. They are pressuring people to resign and saying you have to resign today itself! Market is going to get flooded with Paytm folks. Worst regret is that management and CEO made bad decisions and flunked compliance / risk. But after crackdown by RBI they are making employees suffer. It is heard that this will continue to go on till months. There should be a course on how to behave and work like a CEO.