Paytm employees stare at 'voluntary resignations', firm denies layoff buzz

Paytm said the company is undergoing a routine appraisal process involving performance assessments which may lead to 'role adjustments'

One97 Communications (OCL), the company that operates the Paytm brand, is asking its employees to resign, citing restructuring in the organisation, people in the know said.

While the number of employees affected could not be ascertained, sources in the know said in some departments the impact was almost 50 per cent of the headcount. Some affected business units include the telco unit, marketing, and Paytm Payments Bank.

Last week, the company terminated the jobs of employees who had refused to resign.

Paytm said the company was undergoing a routine appraisal process involving performance assessments, which might