PayU gives pink slip to 150 employees, no plans of 'major downsizing'

The layoffs were undertaken to realign the teams locally

In a bid to realign its teams locally, the Payments and fintech business of Prosus, PayU, has reportedly fired 150 employees accounting for 6 per cent of their total workforce.

"Keeping in mind our highest strategic priorities, we are realigning teams across some businesses in India...we will have (to) part ways with some of our colleagues. Close to 150 employees, which is less than 6 per cent of our total employee strength, will be impacted by organisational realignmen," the Economic Times (ET) reported a PayU spokesperson as saying.

Prosus, majority owned by Naspers, serves more than 4,50,000 merchants with over