Paytm Cuts 1,000 Jobs As AI Delivers Big Cost Savings

Paytm turns to AI automation for streamlined operations, anticipating a 10-15% cut in employee costs.

Paytm strategically expands into insurance and wealth, emphasizing an evolving distribution model.

Layoffs in Paytm are concentrated in the lending team, constituting over 30% of the total workforce.

Paytm discontinues small-ticket loans and BNPL services, prompting revisions in revenue estimates.

Paytm shares closed at ₹630.80 down 1.78% post-announcement of strategic changes.