Paytm's parent company, One97 Communications, is planning to cut 5,000-6,300 jobs to save Rs 400-500 crore amid rising losses. In FY23, the company had 32,798 employees, with costs per employee increasing significantly. The layoffs, already affecting over 1,000 employees, are part of efforts to streamline operations and reduce costs. Despite financial challenges, including a net loss of Rs 550 crore in the last quarter, Paytm remains focused on investing in technology and improving governance.