Paytm shares tank nearly 5% after report says fintech firm may cut 20% of its jobs
The stock of One97 Communications, which announced its fourth-quarter results this week, tanked in the morning session after a report said that the company may cut one-fifths of its workforce in order to reduce its employee costs.
![Paytm shares tank nearly 5% after report says fintech firm may cut 20% of its jobs](https://cdn.zeebiz.com/sites/default/files/2024/05/24/295477-paytm-reuters.jpg?im=FitAndFill=(1200,900))
The report also said that given One97 Communications' burgeoning losses, the workforce can be reduced by 5,000-6,300. Photo: File/Representational