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
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.
All business, all verticals. Atleast 10% reduction in headcount is what is being targeted
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Why? Is something seriously bad happening to the business? Or is it a layoff for layoffs sake?
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
marwari
Stealth
a year ago
It’s PIP not direct layoff.
Sure, you can sugar coat it. People who were given 5 rating in April appraisal are being put on PIP - definitely not layoffs
Does that mean the app will finally be less bloaty? All I want is to pay for groceries!
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
DarkerKnight
Stealth
a year ago
well that's disappointing. have heard VSS is not one of the good guys to work with.
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SaveBugs
Stealth
a year ago
Who told you?
LordPuneet
Stealth
a year ago
Bro he is the ceo
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Wonder why it has so many job postings-mostly same roles on LinkedIn for the last couple of months
Bahrupiya
Student
a year ago
Someone should leak this thread to media....see a lot of comments by vss these days in media...would like to know his comment on this thread too 😜
DarkerKnight
Stealth
a year ago
Any idea from digital marketing team? Can it be affected?
Qwerty2398
Stealth
a year ago
If not for DEMO, they wouldn't have made this far.