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PaisaBazaar lays off over 1,500 employees to cut costs

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BENGALURU : Paisabazaar, an affiliate of unicorn Policybazaar, has fired about half of its 3,000 workforce to cut costs as loan demand at the digital lending marketplace has reduced to a trickle because of the pandemic, according to three people aware of the development.The layoffs were predominantly in roles that involved operations and business acquisition as Paisabazaar has seen demand for new loans plunge by almost 90% in some segments, the people said on condition of anonymity.“Laid-off employees have been asked to serve a month’s notice ending 30 June, and close to 100 employees along with some senior executives have been absorbed into Policybazaar," said one of the people cited above.Paisabazaar did not respond to Mint’s queries.Over.

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United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
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Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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