Before the end of the year, another big fintech company has carried out layoffs. PayU India has fired 150 people. This is 6 percent of its total employee.
Got fired because of this
PayU India’s fintech businesses include companies such as Wimbo, Citrus and LazyPay. The company says that it is laying off so that it can prepare a team of new people. She is trying to take necessary steps to keep herself strong in the market.
An acquisition has already been canceled by the owner of the company
Earlier this year Prosus, which owns PayU, called off PayU’s proposed $4.7 billion acquisition of online payment gateway Billdesk. The termination came less than a month after India’s antitrust regulator Competition Commission of India (CCI) approved the deal, which was first announced in August 2021.
A large number of layoffs are going to happen here too
The Amazon company is now planning to lay off more than 20,000 employees, twice as many as before. Amazon will lay off people from many areas, with the most at risk being distribution center workers, IT staff and corporate executives. The layoffs will happen in the coming months.
Amazon CEO Andy Jassy has recently confirmed that Amazon is preparing to lay off employees in several departments, but he has not disclosed the number of employees who will be affected by the layoffs. In November some internal sources told The New York Times that the company plans to lay off 10,000 employees.