What's happening at Razorpay?

The company did around 10-15% silent layoffs in the last cycle by putting people in PIP. My Manager told me that he has pressure on him to put at least 1 or 2 people in PIP, make them leave the company and reduce costs. Later, the company did as low an appraisal as 2%. Senior folks are leaving specifically Frontend Developers. Salaries of a lot of SDE-2 are below 30 LPA. They have started new positions called Product Developers which will do the same work as SDEs but with a lesser package. PD-1 salary is around 10-12 lakhs and of Lead PD is 20-22 lakhs. The company is putting itself in a position where it wants people to leave on their own. There are almost zero perks in the company. The team outing budget is a joke which is 2k INR per person per year. That is 500 rupees per person per quarter. Also making office mandatory from November.

Almost 50% of the org got no increments People with "exceeds" rating got single digit increments Only promotion cases have got early to mid double digit increments Promotions have been significantly fewer this time, max people have been told to hold off their expectations of promotions for another year The reasons cited were economic slowdown, other companies like Microsoft, Flipkart, swiggy, Amazon doing the same and cost cutting. I think things are getting toxic and the majority of employees have been left disappointed.

Saw multiple people are leaving organisation, looking for change.

Linkedin and twitter feed is filled with it 😅

List of companies doing silent layoffs using PIP and Cultural fit issues. Myntra Flipkart Meesho Cars24 Smallcase

Is razorpay safe to join

I recently got an offer from rqzorpay for SSE role. I have few questions rgarding same. 1. How is the work culture there? 2. Any internal politics issues? 3. How the company's long term stability in terms of how well it will do? 4. What is ballpark hike for same role. 5. What should be fix ctc for this role?

I have been hearing from multiple friends across organizations in India. Lay offs are not in news but happening silently across boards. Companies are on cost cutting mode. Interesting year ahead