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Layoffs
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ZestyUnicorn
ZestyUnicorn
PayTM

Layoffs coming up at Paytm

Heard that Paytm is planning to layoff 10% of entire work force. Across all levels.

Heard cases that folks who were hired at market premium less than 30 days ago are now being asked to leave the organisation.

And the layoffs will be hidden under the guise of mid year appraisals. #PaytmKaro

16mo ago
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BouncyHamster
BouncyHamster
PayTM16mo

Actually, these are not layoffs. They recently changed their PIP policy and set a " at least 10%" quota for compulsory PIP every review cycle(half and full). Basically, it implies that 20% of the entire Paytm workforce will be on PIP in the entire year. Brace for the impact folks. September half yearly reviews are going to be brutal. For Paytm employees asking for source, checkout PIP policy page on Deep Purple.

SqueakyQuokka
SqueakyQuokka
Microsoft16mo

This is true, confirmed from a friend who works there

ZestyUnicorn
ZestyUnicorn
PayTM16mo

So it's not just people are being put on PIP. Know few folks who have been asked to leave - no PIP

DizzyWaffle
DizzyWaffle
Stealth16mo

Oh ok. Any idea which vertical this is.

ZestyUnicorn
ZestyUnicorn
PayTM16mo

All business, all verticals. Atleast 10% reduction in headcount is what is being targeted

DizzyWaffle
DizzyWaffle
Stealth16mo

Thanks @BijaySekharSarma
Hope your job is safe.

MagicalQuokka
MagicalQuokka
Stealth16mo

Why? Is something seriously bad happening to the business? Or is it a layoff for layoffs sake?

ZestyUnicorn
ZestyUnicorn
PayTM16mo

My guess, they want to portray some growth in profit making at end of quarter. Revenue growth is flat, so cut cost - people cost is easiest to cut

GoofyDonut
GoofyDonut
Stealth16mo

Does that mean the app will finally be less bloaty? All I want is to pay for groceries!

ZestyUnicorn
ZestyUnicorn
PayTM16mo

Lol. This means it will become more shit because new folks - who will be hired 2 months later will not know shit - and VSS will implement mindless shit to make UX even worse

DancingDonut
DancingDonut
Housing.com16mo

well that's disappointing. have heard VSS is not one of the good guys to work with.

SquishyWaffle
SquishyWaffle
Stealth16mo

It’s PIP not direct layoff.

Gif
ZestyUnicorn
ZestyUnicorn
PayTM16mo

Sure, you can sugar coat it. People who were given 5 rating in April appraisal are being put on PIP - definitely not layoffs

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