Paytm parent gets labour ministry notice for alleged forced layoffs
labour ministry has issued a notice to the management of One97 Communications, the parent firm of Paytm, for alleged forced termination of employees.
Regional Labour Commissioner, Bengaluru, issued a notice to One97 Communications after some Paytm employees filed a complaint with the labour ministry, accusing the company of violating labour laws and forcing terminations without pay.
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Offering CollegeCourseWebsiteIndian School of BusinessProfessional Certificate in Product ManagementVisitMIT xPROMIT Technology Leadership and InnovationVisitIndian School of BusinessISB Product ManagementVisitThe regional labour commissioner has asked both parties — representatives from the Paytm management and complainants — to present their cases before the ministry with all relevant records.
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Following the RBI’s decision to ban Paytm Payments Bank, the Noida-based firm has undertaken a massive restructuring exercise, including employee rationalisation.
“The decision to transition some employees has been a difficult one for all parties involved, and was made only after careful consideration of all available options,” a spokesperson of Paytm said in response to an ET query.
“We have strived to provide the best possible support to our transitioning employees and ensure fairness and transparency throughout the process,” the spokesperson said, adding that the company will address and resolve any issues expressed by those affected and will continue to collaborate with all
