ON MONDAY, Paytm's parent company, One97 Communications, announced "a slight reduction in workforce" to cut costs. Media reports pegged the number of jobs lost at more than 1,000, or close to 10% of the company's workforce.
Paytm is just one among many which have been slashing jobs after a prolonged funding winter and investors demanding revenue and profit visibility.As per layoff.fyi, 16,298 persons have been laid off so far in 2023. The number is expected to be much higher considering that many of the 125 companies that announced layoffs didn't give the actual number of people they let go. The Information last week reported that Google is mulling a substantial reorganisation of its 30,000-strong ad sales unit following its top-gear adoption of AI, sparking fears of potential job cuts. This is after laying off close to 12,000 employees thus far in 2023. And so, as the year draws to a close, the key question facing India is if its impressive growth can create enough jobs amidst the greatest disruption of all-the advent of artificial intelligence (AI).
Diese Geschichte stammt aus der December 29, 2023-Ausgabe von Financial Express Mumbai.
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Diese Geschichte stammt aus der December 29, 2023-Ausgabe von Financial Express Mumbai.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
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