Paytm's parent company, One97 Communications, lays off employees during restructuring amid RBI's Payments Bank ban impact.
Fintech firm One97 Communications, owner of Paytm brand, is laying off an undisclosed number of employees as part of a restructuring process. The company claimed that it is providing outplacement support for the affected employees' smooth transition. Paytm's sales employee headcount dropped by approximately 3,500 in the March 2024 quarter, mainly due to the impact of the Reserve Bank of India's ban on services of Paytm Payments Bank.
June 10, 2024
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