Paytm Layoffs
Industry Finance · Location Noida · India · Subscribe (RSS)
Paytm has 3 publicly reported layoff rounds on record between April 21, 2020 and June 10, 2024. A total of about 5,000 employees were affected across these rounds.
Layoff history
Paytm reduced its sales headcount by approximately 3,500 in the quarter ending June 2024, bringing total personnel to around 36,521, as the Indian fintech company restructured following a severe regulatory blow. The Reserve Bank of India had ordered Paytm Payments Bank to stop accepting deposits, credit transactions, and top-ups effective March 15, 2024, cutting off a core revenue stream. Management described the effort as building "a leaner organisation" positioned for long-term sustainable growth. The company provided outplacement assistance through partnerships with more than 30 actively hiring firms and said outstanding bonuses were paid out to departing employees. Some workers reported being asked to resign voluntarily rather than being formally terminated.
Reason: RBI ban on Paytm Payments Bank; cost efficiency restructuring
Source: livemint.com
Paytm disclosed a workforce reduction affecting its Noida operations in December 25, 2023. Approximately 1,000 roles were eliminated.
Source: timesofindia.indiatimes.com
Paytm disclosed a workforce reduction affecting its New Delhi operations in April 21, 2020. Approximately 500 roles were eliminated.
Source: hrnxt.com
Data for Paytm is compiled from public WARN Act filings and reporting linked above. See our methodology.