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Paytm cashes in big time on Snapdeal and Stayzilla lay-offs, offers generous job offers

With Leading E-tailing Giants Such As Snapdeal And Stayzilla Laying Off Hundreds Of Employees As Part Of Their Ongoing Organisation Restructuring Drive , Rival E-commerce Firm Paytm Is Making Most Of This By Offering Generous Job Offers To Laid-off Staffers.

News Nation Bureau | Edited By : Gautam Lalotra | Updated on: 26 Feb 2017, 01:56:13 PM
Paytm - File Photo (Getty)

New Delhi:

With leading e-tailing giants such as Snapdeal and Stayzilla laying off hundreds of employees as part of their ongoing organisation restructuring drive , rival e-commerce firm Paytm is making most of this by offering generous job offers to laid-off staffers.

Paytm founder and CEO Vijay Shekhar Sharma tweeted: "Hello, Tech/Product people in Delhi NCR, feeling heat of business restructuring? We welcome you @Paytm and @Paytm-Mall with open arms."

While the tweet did not mention any names, it may be noted that last week Softbank-backed e-commerce firm Snapdeal announced laying off 500-600 employees across verticals while homestay-booking platform Stayzilla shut shop.

Snapdeal co-founder Kunal Bahl admitted to having made mistakes in growing much before it could figure out the right economic model.

Struggling to raise fresh capital, Snapdeal will stop all non-core activities, reduce costs drastically and cut down staff strength to turn profitable.

Similarly, the Chennai-based online hotel room aggregator Stayzilla also decided to wrap up operations because of intense competition in the market.

On the other hand, mobile wallet firm Paytm has seen a significant growth in business after the government's move to demonetise high-denomination notes.

The company, which is slated to launch its payments bank soon, is hiring aggressively across its areas. 

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First Published : 26 Feb 2017, 01:42:00 PM

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