Paytm layoffs are continuing, company is giving bonus, employees are also in annoying situation

Jobs Layoffs: There is a strange atmosphere in the fintech company Paytm these days. After the Reserve Bank of India's (RBI) action against Paytm Payments Bank, the company is facing a crisis and on the one hand bonuses are being distributed and on the other hand the process of layoffs is also going on. This has created an atmosphere of fear and happiness among the employees.

Paytm is helping in placement of laid-off people

Paytm's parent company One97 Communications is continuously reducing its workforce. The company has described it as a part of the restructuring process. However, the exact number of layoffs is not yet known. The company said on Monday that it is providing all kinds of support to those who are being laid off. Arrangements are also being made for their placement. Many people have resigned on their own. Paytm's HR department is in touch with all the 30 companies that are currently hiring.

Bonuses are given to employees who perform better

By the end of the March 2024 quarter, the number of Paytm sales employees had decreased by about 3500. After the ban on Paytm Payments Bank, the number of sales team had come down to 36,521. Along with this, Paytm has also announced to give bonuses to the employees. The company said that employees who perform better are also being encouraged by giving them bonuses. No information has been provided at present about how many people have been given this bonus.

Loss widens to Rs 550 crore in March quarter

In January, RBI banned Paytm Payments Bank from accepting deposits, credit transactions and top-ups for violating several rules. Due to this, Paytm Payments Bank's account, wallet and fastag were blocked from March 15. Due to this, the company suffered a loss of Rs 550 crore in the January-March quarter. Paytm's loss in the same period a year ago was Rs 167.5 crore.

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