Paytm
Paytm's big AI gamble! Stock jumps as company plans 4,000 new hires
Mumbai/IBNS: Shares of One97 Communications, the parent company of Paytm, surged on Tuesday following reports that the fintech major plans to hire around 4,000 employees as part of its expansion strategy focused on artificial intelligence (AI) and merchant services.
The company's stock rose 2.49 percent to trade at ₹1,057.40 apiece, outperforming the broader market.
The benchmark Nifty 50 index was up 0.28 percent during the session.
Expansion Plans
According to a Bloomberg News report, Paytm is looking to increase its workforce by about 10 percent over the coming months.
The company currently employs around 40,000 people and is expected to recruit talent across product, technology and AI teams.
The hiring drive will also include several senior leadership roles and is likely to continue until March 2027.
At the same time, Paytm is reportedly planning to trim about 1 percent of its workforce following its latest appraisal cycle as part of routine performance management.
Focus on AI and Merchant Growth
The planned recruitment comes as Paytm seeks to expand its merchant network and strengthen its portfolio of AI-driven products and services.
The company has increasingly focused on integrating artificial intelligence into customer support, payments, financial services and operational processes to improve efficiency and drive growth.
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