Are you dumb? 
  
 No one will kill you for this, but ... 
  
 You must be the chainsmoker even after reading all the warning  
  
 Bhai nhi kre follow industry standards, compliance etc phir bhi tumko convince ki padi hai ajib kisam ke ho bhai.  
  
 I blame users like you bcaz of which leads vss to be self-claimed no.1 in fintech

Thanks for your input bro!! 
 But I think you are not curious I believe. 
 Paytm was the first mover in digital Paytm infra. 
 Have you ever thought you can transact with local vendors without Paytm innovative thinking. 
  
 I know they have done wrong and everyone knows about that. 
 But my intention was to seek other people's perspective on what went wrong apart from the info available on public forums that you talked about. 
  
 And yes, Vss was a pioneer in fintech infra.

Software Engineer

Senior Designer

Pls Don't kill me for this. I like Paytm over other apps. It works as a single point for everything I need, be it UPI, CC payment, movies, events, travel, investment and what not.  Is AI to be blam...

Pls Don't kill me for this.
I like Paytm over other apps. It works as a single point for everything I need, be it UPI, CC payment, movies, events, travel, investment and what not.

Is AI to be blamed for this or their Paytm Bank Ban?
I like Paytm as an App but I wonder why it's not going well with them. Can't they save changing Management or core values? Let me know your thoughts.

What truly went wrong with Paytm.Can layoff be a only solution???

What truly went wrong with Paytm.Can layoff be a only solution???- 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.

Product Manager

Growth Manager

Welcome to News Discussion's Private Community

Spoke with banking folks, and they confirm that it's not like PayTM was doing something that other banks also don't

Sad to see what PayTM is going through. Increasingly feel that they've been wronged against.

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

PayTm layoff confirmed ✅

Lawyer

Welcome to Software Engineers's Private Community

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

Just went through RBI's note and developments as per major news houses, so Paytm would no longer be an app which used to be in almost every indian's phone march onwards. such a downfall of a firm who enjoyed their best time post covid.

Bhyi anyone knows how can i withdraw/utilise my food wallet from Paytm. Got 1.5k bucks there, don't wanna give a penny to Vijay.. any ideas?

On a serious note, i'm gonna miss paytm. it was an great app, atleast their wallet was the best ever, better than upi since the txn can't be unsuccessful. also they brought one of a kind revolution in e payments. 
RIP Paytm🫡

Death of paytm

Program 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.

Software Developer

Data Scientist

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.

Paytm is laying off people since May 27 (forced resignation)

- 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

Welcome to Office Gossip's Private Community

Working at a Paytm subsidiary. My manager left the firm 6 months ago and instead of hiring a replacement I was given all his work with no increment or bonus.

I worked my ass off and ensured there were no issues. Come appraisal time, no promotion, 5% increment, lot of bonus esops with (5%, 5%, 10%, 10%, 70%) vesting. This is the most weird vesting period I've come across and almost looks they are trying to trap me into staying here.

My experience is not unique. A lot of senior people left last year and they haven't hired but rather dumped their work on juniors.

I feel like an idiot for trusting the firm to reward my work.

High attrition, toxic culture, weird incentives

Paytm layoffs have already begun two weeks ago and come as Paytm's Payment Bank has been barred by RBI from conducting several businesses.

Paytm layoffs: Job cuts across departments, team sizes to be trimmed by 20%

Paytm Layoffs: 20% gone

Senior Software Engineer

As title says , there are so many narratives going around 

Could you give some insight how the management is working upon it

PayTM employees , could you tell us some insider information

Paytm asked them for forced resignation, and requested back the joining / retention bonus from them for no fault of their own. 

What leadership quality does the executives have - they don't know how to run a fintech company with compliance and don't know how to treat employees with dignity. 
___

A former employee whose services were recently terminated by the company because he refused to resign said Paytm did not furnish an experience letter.

The impacted employees have also formed a social media group to deliberate and decide on the next course of action. Some of them are consulting lawyers with at least one employee having already filed a complaint with the labour ministry.

https://timesofindia.indiatimes.com/business/india-business/asked-to-quit-paytm-employees-cry-foul/amp_articleshow/110979880.cms

Paytm employees have started fighting layoffs

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

Welcome to Indian Startups's Private Community

Paytm layoffs

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.

Paytm layoffs? Impact on job market

The show cause notice now about misrepresentation of facts. Not sure if they really made so many mistakes, or are being stopped from becoming something for other reasons.

What's happening with PayTM seems very suspicious

VC here. Doing this for fun.
Don't take all views seriously.

Comment a startup's name, I'll share if it's promising or whatever I know

Analyst

Welcome to Fintech India's Private Community

Will Vijay Shekhar Sharma be able to revive the company in next 6 months or Paytm will lose its existence among upi customers ???

What truly went wrong with Paytm.Can layoff be a only solution???

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