Business

Paytm Fires 1,000 Employees; AI-Powered Automation To Blame?

By
OB Bureau

Mumbai: The debate on whether artificial intelligence (AI) is a blessing or curse for human beings is ongoing.

Well, there will be no doubts in the minds of around 1,000 Paytm employees who have recently been fired across departments.

The decision to lay off so many staff over the past three months by Paytm’s parent company One 97 Communications is aimed to cut costs across the firm, reported The Economic Times.

A Paytm spokesperson said that the company is aiming to transform its operations by incorporating artificial intelligence (AI) and eliminating ‘repetitive tasks and roles’.

“We are transforming 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 marketing,” IndiaToday.in quoted the spokesperson as saying.

The spokesperson further pointed out that AI has delivered more than the company expected.

“We 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,” he revealed.

Even as One 97 Communications is cutting out repetitive roles and non-performers, the company will hire fresh talent to drive growth across new business segments.

OB Bureau

Recent Posts

In-Charge Medical Officer & Pharmacist Caught Taking Rs 40K Bribe In Odisha

Bhubaneswar: The Odisha Vigilance sleuths on Friday apprehended medical officer in-charge of Boipariguda Community Health…

November 8, 2024

Men Shouldn’t Tailor Women’s Clothes Or Cut Their Hair, UP Women’s Body Proposes

New Delhi: Men should not tailor clothes for women or cut a woman’s hair either,…

November 8, 2024

Driver Dead, Over 30 Passengers Injured As Bhubaneswar-Bound Bus Overturns In Nayagarh

Bhubaneswar: Driver of a bus died and over 30 passengers sustained injuries as the vehicle…

November 8, 2024

Rupee Falls To All-Time Low Of 84.37 Against US Dollar

New Delhi: The rupee fell 5 paise to an all-time low of 84.37 against the…

November 8, 2024

[Watch] How BJP MLAs Were Marshalled Out Of J&K Assembly Again Amid Ruckus Over Article 370 Restoration

Srinagar: For the third day in a row, the Jammu and Kashmir assembly on Friday…

November 8, 2024

Royal Bengal Tiger Caught On Camera Crossing NH 16 Near Berhampur; Leopard Rescued From Poachers’ Trap

Berhampur: A video of a Royal Bengal Tiger (RBT), which was spotted crossing the National…

November 8, 2024

Indian-Origin Woman Buys House ‘Friends’ Star Matthew Perry’s LA House, Performs ‘Puja’

New Delhi: Anita Lallian, a real estate developer and film producer with Indian roots has…

November 8, 2024

Maha Snana Ritual Underway In Odisha’s Maa Tara Tarini Temple Post Theft

Berhampur: Maha Snana ritual will be conducted at Tara Tarini Temple, allegedly desecrated by thieves…

November 8, 2024