Laying off due to AI has triple benefits. One actually layoff as planned to reduce burn rate, second show of your AI (non existing) capabilities and hope some VC take note, third get free marketing from BA pass journalists who want clickbait news.

Software Engineer

This is done to please investors and shareholders. AI is just an excuse

Founder

duolingo layoff 10% of contractual employees. Paytm however probably lied about AI as employees tell.

The AI narrative was a complete lie! Know it from friends working there

Analyst

Dukkan did that, now look who is hiring. It’s just an excuse

These are mostly text summarisation jobs, customer support, internal sales Engg folks etc. Once every company starts using copilot, the leadership will expect a 20% bump in productivity of people so things will move fast than regular

Product Manager

Kahin bhi AI ghusana hai? 
 Did you read about the RBI guideline that led Paytm to fire these people! 
 Thoda news padh lo bhailog,would help

Recently we saw Paytm making layoffs due to AI. Are there any other companies that did the same? People whose companies laid off people due to AI. What kind of automations made it possible? Is AI a...

Welcome to Software Engineers's Private Community

Recently we saw Paytm making layoffs due to AI.
Are there any other companies that did the same?
People whose companies laid off people due to AI. What kind of automations made it possible?
Is AI actually doing the work or is it just an excuse to lay off people?

Layoffs due to AI

Software Developer

Layoffs due to AI- Grapevine

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)

Paytm: AI led job loss

100% bullshit 😆 
  
 AI is like an easy target to blame.  
  
 Truth is - They have accumulated insane NPAs in low ticket size loans which RBI also highlighted. Pausing that business made a huge chunk of people redundant. At the same time, there’s insane pressure to boost up the stock price as it’s still treading much lower than IPO price.

Growth Manager

There are news that massive layoffs are coming in Paytm. HR and Business Heads have been given targets - average 30% reduction expected across all teams. #bravenewworld

Massive Layoffs Coming - Paytm

Poor timing !! Festive season, Christmas/new year and these layoffs. 
   
 It's a remainder for everyone that companies won't even think twice before laying you off. So stop making any company your dream or glorifying it.

Data Scientist

Welcome to News Discussion's Private Community

Keep reading news of mass scale layoffs due to AI. Just curious to know. What are companies actually doing with AI? Which products have they built/building, which roles are being replaced, are there are functions or departments which have become redundant?

Do you have first hand knowledge of AI actually replacing someone/something?

What are companies doing with AI

Content Strategist

Hi all wish u guys an awesome happy new year in advance. Sadly news aint coming good whats ur take on these layoffs i belive layoffs arent bcoz of ai but bcoz fintech bubble and pouring all money in ai chips .

Views on ai after paytm and google news

InMobi : Layoffs after silent layoffs last year .

Chartered Accountant

People who argued over authenticity over other thread. Here is the confirmed report on layoff!

PayTm layoff confirmed ✅

Lawyer

https://www.indiatoday.in/amp/business/story/paytm-layoffs-1000-employees-filed-marketing-operations-team-ai-powered-automation-cost-cutting-2480172-2023-12-25

Which dept got impacted at Paytm?

Engineering Manager

Welcome to Data Scientists's Private Community

this government wants to control everything: why are they so insecure ?

Need Govt approval to build AI based tech?

Senior Software Engineer

- The labour ministry announced that Paytm will not recover the joining bonus from a former employee and will pay the notice period payment.
- This decision followed a meeting between Paytm representatives and the regional labour commissioner in Bengaluru.
- The resolution came after multiple ex-employees alleged forced termination and sought reinstatement.
- Paytm attributed recent layoffs to AI-led automation, aiming for significant cost savings.
- The company has faced regulatory challenges and financial losses, with its stock down over 25% year-to-date. 

 Source: Inc42

Paytm Agrees to Settle Dispute with Former Employee

Journalist

Justifying layoff with AI-AI-AI😂 RIP Dukaan customers

Guys, i am in final year B.Tech, currently preparing for placements. 

My Parents advice is to prepare for Govt Jobs. They are fearing about the layoffs, but my aim is to get job in anyone of the MAANG.

I just want to know why layoffs happening. Is it because of the over hiring or because of the poor performance of the employees.

Please share your experience in your company too.

PS: Please upvote to get more reach.

Why still layoffs in MAANG?

Is it true that Microsoft is laying off 10000 employees today?

Microsoft Layoffs

Is Google planning to layoff some employees for redundant roles replacing them with AI?

Google layoffs

TikTok Layoffs | ByteDance cuts hundreds of jobs globally as platform shifts to AI moderation: Report https://www.livemint.com/companies/news/tiktok-layoffs-bytedance-cuts-hundreds-of-jobs-globally-as-platform-shifts-to-ai-moderation-report-11728720808330.html

AI effect.

Human Resources

Welcome to IT Company Discussion's Private Community

Really due to AI is there any risk for developer jobs like java/.net/UI? is this also a reason for layoffs? pls provide your thoughts in comments

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