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PayU, a payment service provider, was the latest company to cut its workforce.
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PayU laid off 6% of its employees in the first half of the fiscal year 2022-2023, according to reports.
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This included 150 employees from different teams. PayU enjoyed a great year.
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In the first half of 2022-2023, PayU's sales increased by 38% to $183 million.
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PayU stated that it had no plans to reduce its workforce significantly and that any attritions would be part of "our normal course of business."
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PayU claims that any layoffs always comply with contractual terms and conditions.
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PayU India plans to create a full-stack digital platform for financial services that uses technology
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to satisfy all (tapped or untapped) customer financial needs, including those of merchants and banks.