ZestyUnicorn
ZestyUnicorn

Massive Layoffs Coming - Paytm

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

17mo ago
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WobblyNoodle
WobblyNoodle
InMobi17mo

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.

PeppyUnicorn
PeppyUnicorn
Student17mo

Companies avoid firing people for multiple sessions as well, they fire when it is actually enough and not possible to continue any further. Companies can't fire people just on a whim who have to take day to day responsibilities and operation accountabilities.

WobblyNoodle
WobblyNoodle
InMobi17mo

Your both statements are incorrect.

Many times companies fire as a precautionary measure/to improve balance sheets as well and not just as last resort.

Anyone can be fired. Everyone is replaceable no matter what level or department of work.

SparklySushi
SparklySushi

They're citing AI is the reason for layoffs as if they've invented AGI LOL

WobblyPancake
WobblyPancake
Dukaan17mo

Just a shitty excuse

FuzzyQuokka
FuzzyQuokka

Lol. Their pinnacle of automation is populating Google Sheets daily, that too doesn't work half the time.

GigglySushi
GigglySushi

Will this affect engg and product also? Or only business

ZestyUnicorn
ZestyUnicorn
PayTM17mo

All functions. Product and Engg might be affected more this time around

SnoozyPotato
SnoozyPotato
JumpyPenguin
JumpyPenguin

It says they fired 1000 folks, but will fire more… Wtf, ek baar mein kar do

Anybody at PayTM knows exact details? Have a friend there but don’t feel like asking directly

ZestyUnicorn
ZestyUnicorn
PayTM17mo

Target of 20% of total org headcount to be reduced

WigglyBanana
WigglyBanana

Holy hell. 1000 people? On a day off? This one hurts

WigglyBanana
WigglyBanana

Btw @BijaySekharSarma Thanks for posting about it yesterday itself. Very kind of you!

JumpyPenguin
JumpyPenguin

I think it must have just gotten leaked today
I’m sure they didn’t have the meeting to announce it today.. That would be more effed up

SquishyQuokka
SquishyQuokka
Gojek17mo

Deleted my OG comment because this is now true. ❤️

WigglyNoodle
WigglyNoodle
Rapido17mo

Bluetick is not important now I guess

SquishyQuokka
SquishyQuokka
Gojek17mo

I mean it establishes a base level of trust that one didn’t pulled it out of nowhere. But I also accept that I made a mistake. Really apologetic about it.

PeppyBanana
PeppyBanana

They said it's because AI has streamlined some processes, especially in marketing & ops. Curious to know the job profiles impacted due to this.

ZestyUnicorn
ZestyUnicorn
PayTM17mo

All functions. Even Product and Tech will face the cut

JazzyNoodle
JazzyNoodle
PayTM17mo

Any idea on which subsidiaries and BUs are getting affected on this?

GigglyBiscuit
GigglyBiscuit

Last week he was posting about his ToDo List of 2024 in LinkedIn .
And asking people for improvements in PayTm.

JumpyPanda
JumpyPanda

Blud asked for improvements a week in advance.. visionary Vijay sekhar..he knew people will bash him if he asks for suggestions after the layoff

JumpyBanana
JumpyBanana

Ai will become the biggest misnomer in next 10yrd for ceo to get away with bad decisions and bad culture.

CosmicPotato
CosmicPotato

Also hiring 15k in 2024 for payments vertical

ZestyUnicorn
ZestyUnicorn
PayTM17mo

Complete hiring freeze

ZippyCoconut
ZippyCoconut
Student17mo

Still hiring i think

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Layoffs
by ZestyUnicornPayTM

Layoffs coming up at Paytm

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 h...

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Actually, these are not layoffs. They recently changed their PIP policy and set a " at least 10%" quota for compulsor...

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Paytm layoffs? Impact on job market

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by SleepyDumplingGeekyAnts

Layoff at Paytm

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.