Views on ai after paytm and google news

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)

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

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?

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

- 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

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