1,000 Paytm employees laid off due to Al automation Template

After reports claimed that Paytm has laid off 1,000 employees, the company said the job cuts were a result of artificial intelligence-led automation. "We are transforming our operations...to drive efficiency, eliminating repetitive tasks and roles to drive efficiency across growth and costs," Paytm said. The company further said it expects to save 10-15% in employee costs due to Al.