Paytm Cancels Earned Leaves Of All Employees; Upto 45 Privileged Leaves ‘Vanish’ From Leave Portal
Rs 15,000 Crore worth Paytm has decided to cancel all earned leaves, and upto 35 privileged leaves of all employees, in order to save costs amidst coronavirus impact.
Employees who had saved their leaves since years, have suddenly found their leaves vanish from leave portals.
Paytm Asks Employees To Sacrifice All Their Leaves
As per an exclusive report by NewsBytesApp, Paytm has informed all employees that they will need to sacrifice their leaves, in order to help the company cope with the slowdown.
As per the email sent to all employees, all earned leaves accumulated by them will be canceled, and upto 35 privileged leaves will go away.
The email by Paytm said, “We need all our employees to contribute all their Privilege Leave (PL) accumulated up to 35 days and all currently accumulated Casual Leave (CL). Your leave details will be updated on the Elevate portal over the next few days.” (Source: NewsBytesApp)
Employees Shocked: Years Of Leaves Accumulated Vanish
Several employees were in a shock, since they spent years collecting and accumulating their leaves for future use.
And then, suddenly, all their leaves have vanished.
One of the employees said, “It took 3-4 years to save 30 leaves, and then you get an email and that’s burned down to zero in a matter of minutes.”
Privileged leaves are encashable for employees.
Interestingly, some employees have reported that the company has cancelled upto 45 leaves from their accounts, and not 35.
Paytm’s Chief Human Resources Officer (CHRO) Rohit Thakur has confirmed this development, as he said that this sacrifice of leaves by employees will help the company in the longterm.
He said, “Ensuring that our employees are safeguarded from the current global crisis is of utmost importance to us. We believe that this is the right step to effectively accommodate the short term impact and the long term interests of our company and all employees.”
We will keep you updated, as more details come in.