Is Paytm firing employees?

Paytm decides to fire 500-700 employees after performance review. Paytm has decided to fire 500-700 employees over the next couple of months after its annual performance review. It will be retaining the affected employees for two months on payrolls until they find better opportunities.

What are the rules for laying off employees?

When laying off employees, you must follow both ethical and legal guidelines….You do not need to provide 60 days notice if:

• You have fewer than 100 employees.
• The employees haven’t worked for six months or more in the past 12 months.
• The employees work less than 20 hours a week.
• A plant being closed is a temporary facility.

How much is Paytm worth?

An over 27\% plunge in Paytm’s share price upon listing pegged the fintech firm’s market cap at $14.5 billion. That’s less than its IPO valuation of $20 billion and its last private valuation of $16 billion in November 2019. NSE -0.80 \%, dipped below its last private valuation—$16 billion—on listing day.

Is it bad to get laid off?

Being selected to be laid off most often is just bad luck. Don’t take it personally, and don’t feel like YOU are a failure. The reality is that your employer has failed. Don’t let the layoff destroy your confidence.

Do you get paid if you get laid off?

If you are laid-off you should get your full pay unless it is part of your contract that your employer can lay you off without pay or on reduced pay. If it is not part of your employment contract, you may agree to change your contract. For example, a lay-off might be better than being made redundant.

Who decides laid off?

In a performance-based layoff, HR and department leadership work together to decide which employees are leaving. The department leader produces names of the lowest-performing employees and HR ensures that the performance assessments are consistent.

Who is Paytm owner?

One97 Communications
Paytm/Parent organizations
One97 Communications Limited that owns the brand Paytm is founded by Vijay Shekhar Sharma and is headquartered in Noida, Uttar Pradesh. Its investors include Softbank, Ant Financial, AGH Holdings, SAIF Partners, Berkshire Hathaway, T Rowe Price, and Discovery Capital.