Paytm lays off over 1,000 employees as AI replaces humans
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Paytm has laid off over 1,000 employees from its operations, sales, and engineering departments as a result of adopting AI automation. The fintech giant said it is "eliminating repetitive tasks and roles to drive efficiency across growth and costs." "We will be able to save 10-15% 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 told Moneycontrol.