- Paytm faces criticism for layoffs amid RBI restrictions on Paytm Payments Bank.Paytm faces criticism for layoffs amid RBI restrictions on Paytm Payments Bank.
- Employees report emotional distress and pressure to resign or repay bonuses.
- Paytm denies claims of unfair treatment, emphasizes support for affected employees.
Paytm has initiated layoffs following regulatory restrictions imposed by the RBI on Paytm Payments Bank, affecting numerous employees. According to reports, some employees were asked to resign voluntarily or repay bonuses, leading to emotional distress among those affected. Allegedly, the termination process lacked formal documentation, with employees describing meetings as informal discussions rather than official notifications.
The company has denied claims of unfair treatment, asserting that terminations were communicated through proper channels. Paytm emphasized its commitment to supporting departing employees with full notice periods, outplacement assistance, and processing of due bonuses. Despite these assurances, controversy persists over the handling of layoffs amidst organizational restructuring aimed at ensuring long-term growth and stakeholder value.
