Paytm Announces Job Cuts in India to Save Costs

Bengaluru – One 97 Communications, parent of fintech firm Paytm, confirmed a “slight reduction” in its workforce on Monday as part of cost-cutting measures without specifying the number of jobs.

A company spokesperson, however, denied recent media reports that have suggested the non-bank lender could cut more 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…