Paytm's Senior VP Praveen Sharma Resigns; Company Clarifies Layoff Speculations

Paytm's Senior VP Praveen Sharma Resigns; Company Clarifies Layoff Speculations

Know the Story:

Praveen Sharma, Senior VP of Business at Paytm's parent company One97 Communications, has resigned to explore new opportunities. With a background at Google, Sharma's departure is effective March 31. Among rumors of layoffs, Paytm has issued a denial, labeling them as baseless. The company clarifies that its annual appraisal process is misconstrued as layoffs and emphasizes its commitment to growth and stability.

Paytm's Stand on Layoffs:

Paytm prove wrong rumors of significant layoffs, stating they are part of routine performance evaluations. The company asserts its focus on sustainable growth and innovation while providing exceptional service. Stakeholders are urged to rely on verified information.

Impact of Resignation:

Sharma's resignation follows a series of adjustments within Paytm, including Vijay Shekhar Sharma's departure from the Board of Paytm Payments Bank Ltd among regulatory challenges.

Key Points:

• Praveen Sharma resigns as Senior VP of Business at Paytm's parent company.
• Paytm refutes layoff rumors, clarifying them as part of routine performance evaluations.
• The company emphasizes its commitment to growth, innovation, and stability.
• Stakeholders urged to rely on verified information from official sources.
• Sharma's resignation follows other adjustments within Paytm, including Vijay Shekhar Sharma's departure from the Board.