AI has eaten the jobs of 1000 people! Massive layoffs in Paytm, know the whole story

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Paytm Layoffs: Paytm's parent company One97 Communications has decided to lay off employees to optimize operations and reduce employee costs by 15 percent. Companies have laid off hundreds of their employees. According to reports, more than 1,000 employees have been fired from various Paytm divisions. As part of the layoffs over the past few months, departments like payments, credit, operations and sales have been affected. According to reports, around ten percent of the company's total workforce has been affected by layoffs.

AI has lost so many people's jobs

While a Paytm spokesperson disagreed on the layoffs, he confirmed that changes are being made. The target is to reduce personnel costs by 10-15 percent in the current financial year, the source said. Hence Paytm plans to use AI to reduce employee costs.

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