Fintech

Paytm Employees File Complaints With Labour Ministry Amid Layoffs and Alleged Unfair Terminations: Report

• ByStartupStory     |    June 22, 2024

Paytm, the prominent fintech giant, is embroiled in controversy as a group of its employees have filed complaints with the Ministry of Labour and Employment, alleging unfair treatment and unlawful termination practices. This development follows a series of layoffs at the company, raising concerns about the ethicality and legality of its employment practices.

According to a report by Moneycontrol, multiple employees have expressed grievances over what they describe as unfair termination practices. The complaints, which were filed between June 1 and June 12, outline instances where employees were allegedly forced to resign or faced abrupt terminations without adequate notice or compensation.

The complaints highlight serious concerns about the manner in which these terminations were carried out. Citing documents viewed by Moneycontrol, it was reported that employees were allegedly “forced into resigning or faced abrupt terminations without adequate notice or compensation.”

In response to the escalating situation, the All India Professionals’ Congress (AIPC) has extended its support to the affected employees. The AIPC has called on these employees to share their experiences anonymously and provide evidence such as offer letters and payslips to substantiate their claims of wrongful termination.

Newsreports say Paytm has sacked professionals in violation of their contractual obligations.
Are you an Ex-Paytm Professional?
Were you forced to resign without compensation?
All India Professionals’ Congress will fight for your cause.
Reach out to us: https://t.co/I2UacwS96Z pic.twitter.com/gUFUzHdE2o

— AIPC (@ProfCong) June 19, 2024

The AIPC’s intervention aims to provide a platform for these employees to voice their concerns and seek justice. By collecting and reviewing these documents, the AIPC intends to build a case that highlights the unfair practices allegedly employed by Paytm.

Earlier, Vijay Shekhar Sharma, the founder and CEO of Paytm, addressed shareholders in a letter dated May 22. He noted that the company would be focusing on its core businesses and implementing cost-cutting measures, which could potentially affect employee roles and costs. However, these restructuring efforts have drawn severe criticism from former employees, who feel that their rights have been disregarded.

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