Key Points
Paytm Payments Bank layoffs: Digital payments platform Paytm Payments Bank is set to reduce its workforce by approximately 20% as it navigates uncertainties surrounding its future operations...
The move comes in response to a looming deadline imposed by the Reserve Bank of India (RBI) for the bank to cease most of its activities...
According to a Reuters report, Paytm Payments Bank has initiated staff layoffs across various divisions, including operations...
Another banking unit employee confirmed that during a February town-hall meeting, Paytm CEO Vijay Shekhar Sharma assured staff there would be no job cuts...
While Paytm Payments Bank declined to comment on the staff reductions, a spokesperson from Paytm said, There are no layoffs here...
