In a recent development, Paytm’s Senior Vice President – Business, Praveen Sharma, has announced his resignation to explore new opportunities in his professional journey. The news comes amidst speculations of a significant workforce reduction at the company, which Paytm has vehemently denied.
Sharma, who previously held leadership roles at Google for nine years, has decided to step down from his position at Paytm. The company clarified that Sharma’s departure is not linked to any layoffs, as recent reports have suggested.
Addressing the rumors of a 25-50 percent reduction in specific business segments, Paytm stated that such claims are baseless and do not accurately represent the company’s operational plans. The company emphasized that its annual appraisal process is a routine practice aimed at enhancing team performance and is not indicative of any layoffs.
In an official statement, Paytm reassured its commitment to growth and operational efficiency, emphasizing its focus on sustainable growth, innovation, and customer service. The company urged stakeholders and the public to rely on verified information from official sources and disregard speculative narratives.
Paytm reiterated its dedication to leading the digital payments and financial services landscape in India, emphasizing its commitment to innovation, customer service, and team development amidst unfounded layoff speculations. The company remains focused on its mission while ensuring stability for its workforce.