Paytm: AI led job loss
To all paytm folks and people having first hand knowledge of this matter: how true is the statement that the 1k layoffs are due to AI? or is it just a bs PR move to justify layoffs (like any other organisation)
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Usage of AI internally would mean hiring more folks to build the required systems/products. There are hackathons on AI but that's about it.
Blaming AI is such a shameless move. You're not only being dishonest with your investors (general public) but also telling them that you're magically doing something with new tech to boost share price.
SB
It's a know fact the business is making losses for some time now, event though the qtr by qtr the loss margins have reduced.
To give positive outlook towards investors into Paytm ipo, it top priority to make the business profitable. Layoffs are yes one way to reduce the costs.
INMO ai is not going to helo much
Wow some fight in the comment section, I think this is due to the RBI guidance due to which now they have to limit loans to above 50k segment.Impact of same is around 30%, Same can be seen in stock price. Due to reduced top line they needed to reduce costs. @ElonMast NPA point can't verify with any public data or stock price movement.