Paytm parent One97 Communications has published its annual report that revealed the employee count was slashed by 4,500 in FY25. With the restructuring, the fintech giant saved Rs 650 crore, per its report.
In FY 2024, the Vijay Shekhar Sharma-led firm had an employee head count of 44,000 which came down to 39,400 in the following fiscal year. The company’s annual report states,
“Driven by our continued efforts to create a leaner organization structure and increase productivity leveraging technology, we continue to invest in our sales team to expand our distribution network.”
The company’s sales team was also slashed to 35,512 from 32,614, between FY24 and FY25.
In a letter to Paytm shareholders, Sharma remarked,
“We took some tough calls, pruned and sold businesses, and doubled down on our core of payments, ensuring the preservation and growth of our cash reserves. This focus towards fundamentals has put us on a clear path toward sustainable growth and profitability.”
🚨Paytm reduces headcount by 4,500, employee expenses down by Rs 650 crore in FY25#Paytm #Business
More details here 👇https://t.co/Y2a7PXC29c
— Moneycontrol (@moneycontrolcom) August 6, 2025
While Paytm’s layoff doesn’t reek of AI, other corporate giants in India haven’t shied away from admitting the same, including TCS that is laying off over 12,000 staff. The layoff in the Tata-owned IT company that is viewed as the ‘sarakari job’ in the Indian private sector has made the industry paranoid about its future, as fresh graduates worry about entry-level jobs scooped up by AI agents.
See Also: TCS To Layoff 12,000 Staff To Deploy AI At Scale; The Internet Jibes ‘Amrit Kaal In IT Sector’