Paytm takes extraordinary measures to support and refocus workers amid restructuring
Paytm is reorganizing to provide equitable transitions for employees.Workers are offered the choice to leave with enough time to make a decision.Affected workers were given preference for available jobs.
Owner of the Paytm brand, One 97 Communications Limited (OCL) is reorganizing and making sure that employee transitions are handled fairly in accordance with the guidelines outlined in their appointment letters, going above and beyond industry standards. OCL is the leading distributor of financial services in India and the creator of QR and mobile payments.
Instead of being fired immediately, the employees going through transition were given the opportunity to resign first and enough time to consider their options, ensuring that their performance would not be called into question by potential employers.
This runs counter to the methods used by a number of IT majors, who declare large layoffs and then instantly deny access to the systems to the workforce. It further emphasizes Paytm's resolve to ensure that its decision to restructure its business will not have an impact on future negotiations by its transitioning workers.
Additionally, Paytm has made sure that it honors the complete notice periods of these workers, processing their final salaries in accordance with industry standards and providing them with enough time to plan their next course of action.
The corporation is also giving transitioning employees the option to receive early relief from their notice period, in exchange for receiving their entire salary.
Furthermore, OCL is prioritizing its affected staff when it comes to filling unfilled roles in all of its main business divisions, provided that their skill sets align.
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