Foreign Investors Pour $18.65 Billion into Japanese Stocks Amid Market Stabilization 
Disney Plans to Cut 1,000 Jobs Amid Ongoing Restructuring Efforts 
Bendigo and Adelaide Bank Posts Strong Q3 Earnings, Announces AI-Driven Job Cuts 
MATCH Act: How New U.S. Chip Legislation Could Freeze China's Semiconductor Ambitions 
SanDisk Joins Nasdaq-100, Replacing Atlassian on April 20 
China's AI Stocks Surge as Zhipu and MiniMax Hit Record Highs 
Chinese Cars in Europe: Consumer Trust Is Shifting Fast 
Pilots Fear Retaliation for Refusing Middle East Flights Amid Ongoing Conflict 
TSMC Posts Strong Q1 2025 Revenue, Riding AI Chip Demand Wave 
Kia Cuts EV Sales Target for 2030 Amid Slowing Demand and U.S. Policy Shifts 
Chalco Stock Surges as Q1 2025 Profit Forecast Jumps Up to 58% 
OpenAI Addresses Security Vulnerability in macOS App Certification Process 
NIO ES9 SUV Launch Sends HK Shares Down 7% Despite Bold Pricing Strategy 
FedEx Pilots and Union Reach Tentative Agreement on 40% Pay Increase 
Bill Ackman Eyes New Fund to Bet Against Market Complacency 
Goldman Sachs, ANZ Cut Oil Forecasts Amid U.S.-Iran Ceasefire Hopes 
BHP's Incoming CEO Visits China Amid Pricing Dispute with CMRG 
Paytm, an Indian multinational financial technology company, is laying off more than 1,000 staff as it starts to deploy artificial intelligence (AI) automation for various functions in the company.
The company also said that it decided to cut its workforce to reduce costs on its business operations.
Major Shift to AI
Paytm said the layoff will also mark the company's shift to AI-led operations. The company's parent organization, One 97 Communications, confirmed the axing of workers on Monday, Dec. 25.
The firm said this is only a "slight reduction" in its workforce and had to be carried out to cut costs. The job cuts will affect all department units, as per Reuters. It was added that the exact number of roles to be eliminated is not known, although reports suggest more than 1,000.
"We will be able to save 10-15% in employee costs as Artificial Intelligence (AI) has delivered more than we expected it to," the spokesperson told Reuters.
In any case, Paytm is making adjustments and updating its operations to achieve its first net profit since its public listing in November 2021. The digital payment platform based in India further said that the work reduction is a significant step for the company's strategic shift to AI-powered business operations.
Paytm's High Expectations from Its AI Adoption
BNN Breaking reported that Paytm is embracing artificial intelligence to automate its operations. Through this, the company expects to reshape its workplace landscape while reducing employee costs by 10-15%.
"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," News18 quoted a company official as saying. "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."
Photo by: Paytm Blog
