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Praveen Sharma, Senior Vice President at Paytm, Resigns Amidst Company Restructuring


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Praveen Sharma, Senior Vice President of Business at Paytm, has submitted his resignation, as stated in a recent company disclosure. Sharma will officially leave his position on March 31. In his farewell note, he hinted at pursuing “other opportunities” after his departure. Prior to joining Paytm, Sharma held leadership roles at Google for almost ten years, focusing on India and the Asia-Pacific region.

Sharma’s departure is the latest in a series of notable exits from the company. On February 26, Vijay Shekhar Sharma stepped down from the Board of Paytm Payments Bank Ltd (PPBL) to facilitate board restructuring. This decision followed the Reserve Bank of India’s imposition of significant business restrictions on PPBL on January 31, which included prohibiting new deposits and credit transactions after February 29.

In response to recent rumors of job losses, Paytm has refuted claims of a 25-50% downsizing of its workforce in specific business areas. The company described these reports as “baseless” and misrepresenting its operational and strategic planning in the same filing. Currently, Paytm is conducting its annual performance review process, a standard practice to evaluate and enhance team performance.

The performance assessment and role alignment process is common across various industries. Paytm clarifies that its restructuring initiatives and performance-based adjustments have been misconstrued as layoffs. The filing emphasizes Paytm’s commitment to growth and operational efficiency while ensuring the stability of its workforce.

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