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Paytm, the Indian fintech pioneer, signalled job cuts and asset trimming after reporting its first sales decline on record due to a regulatory probe. The company's net losses surged to 5.5 billion rupees, with revenue dropping by 2.6%. Paytm aims to recover by streamlining operations and focusing on core businesses.
New Delhi, May 22 (IANS) In order to achieve significant cost efficiencies through artificial intelligence (AI)-led capabilities, digital payments ma
In order to achieve significant cost efficiencies through artificial intelligence (AI)-led capabilities, digital payments major Paytm is planning a "leaner organisation structure" and the "pruning of non-core businesses", ...
Paytms parent, One 97 Communications Ltd, is taking steps to “strengthen the governance framework across our group entities (especially regulated entities)” by appointing subject matter experts as advisors of independent directors, says founder Sharma in letter to shareholders. Going forward in the ongoing fiscal, Paytm also anticipates reduction in employee costs.
Company said it lost about 4 million monthly transacting users during the March quarter