New Delhi, December 25: Fintech leader Paytm has laid off several hundred employees from its operations, sales and engineering team, according to reports. A company spokesperson did not divulge the number of people affected, but said the company is 슬롯사이트œtransforming our operations with AI-powered automation to drive efficiency, eliminating repetitive tasks and roles to drive efficiency across growth and costs, resulting in a slight reduction in our workforce in operations and marketing슬롯사이트.

슬롯사이트œWe will be able to save 10-15 per cent in employee costs as AI has delivered more than we expected it to. Additionally, we constantly evaluate cases of non-performance throughout the year," a Paytm spokesperson informed.슬롯 머신 사이트 추천Google Layoffs: Tech Giant Likely to Layoff 30,000 More Employee Due to AI Integration and Restructuring Plans, Say Reports.

In 2021 the fintech major had laid off 500-700 employees based on non-performance. "Insurance and wealth will be a logical expansion of our platform, in continuation of our focus on the existing businesses. Having shown the strength of our distribution-based business model in loan distribution, we are expanding the same to focus on new businesses to drive scale,슬롯사이트 said the Paytm spokesperson.

Paytm is leveraging AI to revolutionise payments and financial services like wealth management, Paytm Founder and CEO Vijay Shekhar Sharma said in an interview with Bloomberg.

Paytm슬롯사이트™s AI-driven strategy has helped it reduce workforce while continuing to innovate for India. 슬롯사이트œAs we lead the AI revolution in India, we are embracing AI-powered automation to eliminate repetitive tasks leading to substantial cost savings. With an aim to drive efficiency across growth and costs, we are reducing our workforce by 10 per cent and continue to drive innovation in India across payments and financial services,슬롯사이트 said a Paytm spokesperson.슬롯 머신 사이트 추천Layoffs in US: Clean Tech Unicorn Palmetto Reportedly Lays Off Employees Amid Market Slowdown.

Paytm believes that its strong mobile-first foundation and early AI adoption will give it a competitive edge. The company aims to hit EBITDA-level profitability sooner. It has generated free cash for the past two quarters and Sharma expects that trajectory to continue.

(The above story first appeared on LatestLY on Dec 25, 2023 02:20 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).