Paytm employees alert! Digital payments major takes this step

Digital payments major Paytm on Saturday said it has requested all its employees to contribute some of their leaves to ensure that its operations run smoothly as the government eases restrictions through parts of the country under lockdown 4.0.

Under the new rules, employees will be able to contribute their Privilege Leave (PL) accumulated up to 35 days and all currently accumulated Casual Leave (CL).

Paytm said this move will not only have a positive impact on the balance-sheet but will also help the company ensure that it continues with its growth drive.

"Ensuring that our employees are safeguarded from the current global crisis is of utmost importance to us," Rohit Thakur, Chief Human Resources Officer, Paytm said in a statement.

"We believe that this is the right step to effectively accommodate the short term impact and the long term interests of our company and all employees," Thakur said.

This decision, Paytm said, was taken after due discussions and it was agreed that in the post-COVID world it would be important to have all hands on deck so that the company can go on supporting citizens who will rely even more on the digital economy and payments.

This is a temporary measure as employees would be again entitled to collect PL and CL going forward, Paytm added.

The company believes that this move will help the company keep its costs under check without adversely affecting employee morale.

Amid widespread layoffs across industries due to the COVID-19 induced economic downturn, these cost-saving measures are designed to ensure that Paytm's workforce is cushioned from the current crisis, the company said.