Paytm looks to rationalise employee costs by revising hiring strategy

The company, said to be exploring different ways to save on employee costs, has laid off a few employees for 'poor performance'

Changes in its business due to shifts in regulatory stance and the adoption of artificial intelligence have been responsible for fintech major Paytm rationalising its employee cost structure, which includes revising its hiring strategy, focusing on contract employees, and a stricter performance appraisal.

Sources close to the development told Business Standard the company was exploring different ways to save on its employee costs and had laid off a few employees on “performance” grounds.

“We will see a similar development for the next few months. The company is fine-tuning its hiring policies and implement rigourous measures to look into employee performance,”