‘Unfair’ job cuts: Labour ministry notice to Paytm


MUMBAI: The labour ministry has issued a notice to Paytm for alleged pressured termination of staff with out a honest exit course of, business and worker sources informed TOI. The notice, understood to have been despatched over the weekend, has been issued by the regional labour commissioner, Bengaluru.
The Noida-based fintech, which got here beneath regulatory scrutiny following persistent non-compliance at its banking unit, has been allegedly forcing staff to voluntarily resign with out giving them any prior notice of such a transfer, denying severance pay and asking staff to pay again their becoming a member of and retention bonuses to the corporate, TOI had reported earlier.Several of the agency’s staff had filed criticism in opposition to the corporate’s unfair worker practices with the labour ministry’s Samadhan portal.
“We value the contributions of all our employees and remain humbled by their dedication. 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. As an organisation committed to providing the best for our teams, we have strived to provide the best possible support to our transitioning employees and ensure fairness and transparency throughout the process,” a Paytm spokesperson mentioned in a press release, including that the corporate will try to resolve any points expressed by these affected and are actively listening to their suggestions.
The labour ministry has requested representatives of the corporate’s administration and the complainants to seem earlier than the division with related information. Earlier this 12 months, RBI imposed extreme restrictions on Paytm Payments Bank (PPBL) due to persistent non-compliance.

Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


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