Bengaluru – One 97 Communications, mother or father of fintech agency Paytm, confirmed a “slight reduction” in its workforce on Monday as a part of cost-cutting measures with out specifying the variety of jobs.
An organization spokesperson, nonetheless, denied latest media experiences which have instructed the non-bank lender may minimize greater than 1,000 roles.
“We will be able to save 10-15% in employee costs as Artificial Intelligence (AI) has delivered more than we expected it to,” the spokesperson advised Reuters.
Paytm is overhauling its operations in an try to obtain its first internet revenue since itemizing in November 2021.
During its fiscal 12 months to end-March 2023, Paytm had a median of 32,798 immediately employed employees and 1,589 contracted staff worldwide throughout its varied models, its annual report confirmed.
(Reporting by Manvi Pant in Bengaluru; Editing by Andrew Cawthorne, Kirsten Donovan)
