Several employees at Paytm are reportedly facing imminent job cuts, with some alleging unfair treatment during the process.
Both former and current employees claim they were pressured to "voluntarily resign," denied severance pay, and asked to return retention and joining bonuses.
Multiple employees shared their experiences stating that Paytm forced them to resign without providing formal documentation or severance.
One former employee disclosed that the company demanded repayment of their retention and joining bonuses, which were not mentioned in their offer letters.
While Paytm cited these letters as the basis for the demands, employees claimed they never received or signed such documents.
The paper accessed an offer letter that included a clause stating bonuses are recoverable if employees leave before 18 months or are terminated for any reason. However, employees maintain this was not communicated to them during their hiring process.
An employee from the lending team, who has filed a complaint and is awaiting a report, recounted how just two months ago, Paytm founder Vijay Shekhar Sharma assured staff at a townhall meeting that no one from the lending team would be laid off. "I thought my job was safe," the employee lamented.
Some employees, resisting termination to seek a "fair exit process," have consulted lawyers. One individual has already filed a complaint with the labour ministry, and another alleged that they did not receive an experience letter after being terminated for refusing to resign.
Adding to the controversy, employees reported that HR meetings were conducted informally and labelled as "connect" or "discussion" calls without any formal documentation.
Employees were also warned against recording these calls, further fueling concerns about the transparency of the process.
In response, a Paytm spokesperson denied all allegations of forced resignations and unfair treatment. "We strongly deny allegations pertaining to any forced action on employees or unfair treatment.
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