Paytm wants to layoff 5000 people 🤯
There's too much dynamic changes happening in the industry right now.
If the current trends continues people will be fed up of constant learning and applying by the age of 45-50.
At any measures there is a strong saturation right now due to lakhs of engineering graduates all choosing CS in the last 4 years. Add to it the automation by AI.
Yeah, main thing is AI, it's something I'm personally very afraid of from the job point of view
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Not sure, how many folks will be going from tech team since sales department consists of 25k+ employees
They are doubling down investment in sales and risk compliance. But because tech takes a bigger pay the most affected employees will be from tech itself (as per internal source)
That's why the government is providing free ration. No need to worry!
Apparently this has already happened. They are giving copilot to the devs who remain.
Company strength is very strong.
The article mentions that there were 30000 emp on payroll in 2023.
Obviously the number is lower in tech department. But layoffs will happen mostly in tech because of engineering packages and projects shut down. Paytm informed this in their earnings call.
Ffs copilot cannot do the devs jobs(as of now). Even I use it, all it helps is in adding boilerplate code/unit tests(which are not often correct)
Kaam kaun karega fir yeh?? And AI ki bakchodi use kar ke apne incompetence ko chupa raha hai bas.
Even the place I work. There upper management is like we are going to integrate AI in this, that 🤷🏻♂️
Ahhh Layoffs, the tried and tested way to pump shares. Nothing else is working so it's the last option!
