Paytm has given a big shock to its employees before the start of the new year. According to reports, Paytm’s parent company One97 Communications has laid off more than 1000 employees. According to the report, PTM is in the process of reorganizing various businesses and thus the company has made major layoffs to reduce costs. Due to this retrenchment of the company, 10 percent of its total employees will be affected. Apart from the lay-off, the company has also decided to discontinue services like Small Ticket Consumer Lending and Buy Now Pay Letter.
Paytm laid off hundreds of employees and closed many services
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