Paytm’s parent company One 97 Communications end the year with laying off more than 1000 employees.
The layoff is across various departments as a measure of cost cutting.
This also comes as a result of Paytm’s strategy to realign its various businesses.
These layoffs began in the last few months and more layoffs are expected in the months to come.
This UPI platform has also withdrawn its “buy now pay later scheme.
Tentatively 10%
of the entire work force will be impacted by the layoffs.
Paytm has become one of the biggest layoffs in a new-age tech firm in India with over 1000 layoffs.
Paytm's stock went majorly down this year, falling around 20 per cent in early December.
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