People Digest: Paytm restructures top brass; OLX lays off 250 employees

FILE PHOTO: A worker adjusts a hoarding of Paytm, a digital payments firm, in Ahmedabad, India, January 31, 2019. REUTERS/Amit Dave

Digital payments major Paytm has begun restructuring its top management as it prepares for a listing in 2022. Separately, OLX India has laid off about 250 employees as it looks to focus on two of its key verticals.

Paytm restructures top brass

Digital payments major Paytm, which is eyeing a listing in 2022, has begun restructuring its top management, Entrackr reported.

In the latest reshuffle, Paytm has promoted its president Madhur Deora as the group’s chief financial officer (CFO). Meanwhile, Amit Nayyar, who looks after financial services including insurance, lending, and Paytm Money, has received the additional responsibility of mergers & acquisitions.

In August, Bhavesh Gupta had joined to lead Paytm’s lending business whereas Varun Shridhar was hired as the CEO of Paytm Money. According to the report, more executives at the top and leadership positions are expected to be given new roles.

OLX lays off 250 employees

Online classifieds portal OLX India has laid off about 250 employees as it looks to focus on two of its verticals — Cash my Car, which is a platform to sell cars, and recruitment marketplace Aasaanjobs, per media reports.

OLX has already decided to shut down its real estate and used goods verticals as part of a larger change in global strategy.

“As we continue to evolve to meet the market expectations and the needs of our customers, we’re shifting our strategy and focusing on key segments where we can offer more services and convenience,” OLX spokesperson said.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.