ZestyUnicorn
ZestyUnicorn

Massive Layoffs Coming - Paytm

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

12mo ago
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WobblyNoodle
WobblyNoodle
InMobi12mo

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.

PeppyUnicorn
PeppyUnicorn
Student12mo

Companies avoid firing people for multiple sessions as well, they fire when it is actually enough and not possible to continue any further. Companies can't fire people just on a whim who have to take day to day responsibilities and operation accountabilities.

WobblyNoodle
WobblyNoodle
InMobi12mo

Your both statements are incorrect.

Many times companies fire as a precautionary measure/to improve balance sheets as well and not just as last resort.

Anyone can be fired. Everyone is replaceable no matter what level or department of work.

SparklySushi
SparklySushi

They're citing AI is the reason for layoffs as if they've invented AGI LOL

WobblyPancake
WobblyPancake
Dukaan12mo

Just a shitty excuse

FuzzyQuokka
FuzzyQuokka

Lol. Their pinnacle of automation is populating Google Sheets daily, that too doesn't work half the time.

GigglySushi
GigglySushi

Will this affect engg and product also? Or only business

ZestyUnicorn
ZestyUnicorn
PayTM12mo

All functions. Product and Engg might be affected more this time around

SnoozyPotato
SnoozyPotato
JumpyPenguin
JumpyPenguin

It says they fired 1000 folks, but will fire more… Wtf, ek baar mein kar do

Anybody at PayTM knows exact details? Have a friend there but don’t feel like asking directly

ZestyUnicorn
ZestyUnicorn
PayTM12mo

Target of 20% of total org headcount to be reduced

WigglyBanana
WigglyBanana

Holy hell. 1000 people? On a day off? This one hurts

WigglyBanana
WigglyBanana

Btw @BijaySekharSarma Thanks for posting about it yesterday itself. Very kind of you!

JumpyPenguin
JumpyPenguin

I think it must have just gotten leaked today
I’m sure they didn’t have the meeting to announce it today.. That would be more effed up

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by ZestyUnicornPayTM

Layoffs coming up at Paytm

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 h...

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Actually, these are not layoffs. They recently changed their PIP policy and set a " at least 10%" quota for compulsor...

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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 ...