PayU India fires 150 employees, says 'No plans for major downsizing'

Fintech major PayU is laying off close to 150 employees as the company looks to "realign teams across some businesses in India". The impacted staff represent less than 6% of PayU's total employee strength, a company spokesperson said, adding that there are no "plans for any major downsizing". In October, PayU's $4.7-billion acquisition of online payments gateway BillDesk was terminated.