Paytm is planning a major recruitment drive over the next nine months, aiming to hire around 4,000 employees as it expands its merchant ecosystem and strengthens its artificial intelligence-focused products. The hiring push comes even as the company prepares to reduce approximately 400 positions following its latest employee appraisal process.
The new hiring initiative is expected to increase Paytm’s workforce by about 10%, taking its total employee count beyond the current level of roughly 40,000. According to the company, the workforce reduction represents around 1% of its staff and is linked to performance evaluations completed recently.
Recruitment efforts will continue until March 2027 and will cover a wide range of roles, including senior leadership positions. The company is particularly looking to add talent across product development, technology, and AI-related functions as it expands its business beyond digital payments.
In a statement, Paytm said it has already onboarded more than 800 employees over the past two months and is actively working to fill an additional 4,000 positions.
The expansion comes as Paytm continues its recovery from regulatory challenges that affected its operations after action was taken against Paytm Payments Bank. Since then, the fintech company has been reshaping its business strategy and focusing on growth opportunities in newer segments.
Founder and CEO Vijay Shekhar Sharma has emphasized increasing the use of lending, investment, and other financial services among Paytm’s large customer base. The company has also posted four straight profitable quarters, marking a significant turnaround from the disruptions caused by restrictions on its banking affiliate.
Following the regulatory setbacks, Paytm reportedly eliminated more than 4,500 jobs as part of restructuring efforts. After the Reserve Bank of India revoked the operating licence of Paytm Payments Bank, the banking unit was gradually wound down. While many employees from the affiliate left the organization, some were reassigned to other business divisions.
Investors reacted positively to the latest developments, with Paytm shares rising about 2.5% during trading on June 9. Despite the gain, the stock remains down around 18% since the beginning of the year.
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