Product Manager

Layoffs in May 2024, August 2024 and now again the next wave of layoffs.

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m2p fintech layoffs day in day out at mumbai floor.

Program Manager

m2p fintech layoffs day in day out at mumbai floor.- Grapevine

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The very basic problem M2P is facing is- their core banking system project is written in play framework and EJS. 
Not even experienced (3-6YoE) dev wants to put their hand in the 24*7 constantly breaking code. They are hiring good coders with experience and handsome pay packages and the coder soon sees the system and switches to another company.

Now it is rumoured that they are laying off the Mumbai floor and taking the cbs product to the Chennai floor.

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Hearing another mass layoffs on the cards at a fintech startup that is into lending, insurance and mutual funds in Bengaluru, which had laid off about 20% in June last year !

Another Mass Layoff on the cards...

Systems architect

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 hidden under the guise of mid year appraisals. #PaytmKaro

Layoffs coming up at Paytm

Data scientist

It seems that senior management at Paytm was not satisfied with the first round of layoffs that they had done in Aug and there is a second round of layoffs which is underway for OND quarter.

Each CBO and product head has been given a target nos of people they have to reduce every month. Let's see what spin is given here - half yearly appraisal process is my guess

Paytm - Another round of layoffs

Finastra (Company in BFSI/Fintech space, deals with PG solutions) is conducting silent layoffs.
Be careful before joining this company

Layoffs in Finastra

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Microsoft layoffs 
Guys, know anything about Microsoft layoffs in India ? Friends there said they apparently layoff ppl in news, engineering roles

Microsoft India layoffs

Founder

As per internal company sources: This is big like 500+, lots of folks cut in platform teams, brand teams, marketing teams, business teams, product and tech. Wish everyone there all the best. This shall too pass!

Layoff at BYJUS as mentioned by articles

Growth Manager

A real money fantasy gaming company based in navi mumbai is all set to lay off more than 70% of its workforce. The employees have already been told to start searching for jobs elsewhere. Layoffs will begin  post October. 
They will most probably put the employees on pip before termination.

Layoffs at a growing Fantasy gaming company based out of Navi Mumbai

There are rumours that fresh rounds of layoffs were to happen in next two weeks. Here is my take on the layoff spree.

High inflation, low jobs, less on spending, economic meltdown for IT employees, impact on IT cities like Bengaluru, Hyderabad, Pune, Mumbai, Chennai. 

Less spending on equity, mutual funds, real estate(premium villas, apartments). Chances of housing loan defaults, NPA on raise and the recession crisis. This will go for next 6 months. So, stay where ever you are. Don’t change jobs in this market

Fresh round of layoffs to happen

Lawyer

PayU India going to start conducting layoffs starting Sept 23

Lead data scientist

From what I hear from a friend who is aware of the leadership discussions, MPL might be looking to lay off close to 50% of its workforce and shut down most of its other BU’s to consolidate by October. This would include folks even till the SVP levels. This might be one of the first pins to fall with the 28% GST rule kicking in by October. Dark days ahead for online RMG  industry in India

Massive layoffs coming up at MPL

Product Head

Can we please share the companies which are laying off and kind of roles laid off?

1. Goldman Sachs -Consumer Banking 
2. Twitter -Marketing 
If you have any other companies also please post in comments

List of companies laying off employees in India

Product Owner

How widely is M2P used in the fintech space? Do they have as many clients as they claim on their website?

How are their offerings in lending? Asking from a POV of a potential client to them.

M2P Fintech

Is there any one from Paytm , who can confirm if there’s a silent layoff happening there. I have an offer as SSE , but have heard from multiple people that work culture is detoriating very fast and almost 20% are undergoing PIP.

Layoff at Paytm

Tech lead

Entire team at media.net is laid off.
Whole BU is laid off including analyst & senior PM's.

Layoff at Media.net

Software Engineer

Guys, wanted to know how is work culture in M2P, the location is Chennai, I'm an engineer, I am expecting an offer from them, but before I accept, I want to know if somebody knows a little bit about the company and the environment given that the location is Chennai.

M2P Fintech, SDE2

Software Developer

Hi Guys,
The management at Paytm has informed around 30-40 % will be laid off in May end.

I will be affected by Paytm layoffs as list is being prepared.
Any referrals/leads for backend software Engineer(tech stack Scala,Kafka,SQL,AWS ) would be helpful as I had joined Paytm as fresher last year.Total experience will be 1 year in June.

Laidoff by paytm

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)

Saw this online. #Mumbai #Layoffs

Digital Operations

- M2P Fintech is negotiating with Helios Investment Partners for an $80 Mn funding round.
- The deal includes $50 Mn in primary and $30 Mn in secondary infusions.
- This funding could push M2P's valuation to $800 Mn, close to unicorn status.
- Founded in 2014, M2P offers fintech API solutions to companies like slice, CRED, Ola, and Razorpay.
- The startup plans to use the funds to enhance technology, grow teams, and accelerate global expansion. 

 Source: [Inc42](https://inc42.com/buzz/m2p-fintech-seeks-to-tap-pe-player-helios-for-80-mn-funding-closer-to-unicorn-tag/)

m2p fintech layoffs day in day out at mumbai floor.

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