"Despite the recruitment drive, the company plans to lay off about 400 employees following performance reviews." — Reported to tracker as AI-attributed, but this does not hold up. Both verified outlets (each citing Bloomberg) describe the ~400 cuts (~1% of ~40,000 staff) as performance-linked after the annual appraisal cycle. AI appears only in the SEPARATE, concurrent plan to hire ~4,000 people for AI/product/tech roles through March 2027. No company or press quote links the layoffs themselves to AI. Corroborated by People Matters, 2026-06-10: https://www.peoplematters.in/news/strategic-hr/paytm-to-lay-off-1percent-of-workforce-while-hiring-4000-employees-50188