Paytm Payments Bank Trims Workforce By 20% Amidst Uncertainty

  • Paytm Payments Bank faces a potential reduction of its workforce by 20%, according to industry sources.
  • This downsizing comes amidst ongoing regulatory action by the Reserve Bank of India (RBI) against the bank.
  • The RBI had previously directed Paytm to halt certain key operations due to compliance issues.
  • The bank's future remains uncertain, leading to potential job cuts across various departments, including operations.
  • Paytm, however, maintains it's a performance-based restructuring, not layoffs. They claim existing services like QR and card machines will continue to function.

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