Paytm layoffs? Impact on job market
Given what RBI has gone today is effectively shut down 60-70% of Paytm’s business, to survive, Paytm will end up doing mass layoffs of a scale that we haven’t seen before in India. And potentially with limited severance (not as generous as what swiggy or Big tech has been doing) What would this mean for the rest of job market? So much unemployment in high earning folks, limited new jobs, means very tough competition for each opening and extremely bad situation in terms of appraisals and hikes too.
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Usually such things have ripple effects. More fintechs will introspect and evaluate their business. Major problems with fintech is either zero or very less focus on the compliances. The business team drives everything which results in major compliance issues.
Has fampay ever faced any such notices?