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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

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anonash

Paytm

a year ago

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.
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Gupchup

TCS

a year ago

This is true, confirmed from a friend who works there
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RockYourBody

Paytm

a year ago

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

Mentor/Advisor

a year ago

Oh ok. Any idea which vertical this is.
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RockYourBody

Paytm

a year ago

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

Mentor/Advisor

a year ago

Thanks @BijaySekharSarma Hope your job is safe.
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AITookMyJob

Startup

a year ago

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

Paytm

a year ago

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
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marwari

Stealth

a year ago

It’s PIP not direct layoff.
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RockYourBody

Paytm

a year ago

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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potatomato

Fintech Startup

a year ago

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

Paytm

a year ago

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
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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?
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RockYourBody

Paytm

a year ago

Well now that's something you won't get to know.
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LordPuneet

Stealth

a year ago

Bro he is the ceo
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tod_chavezz

Paytm

a year ago

Source?
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RockYourBody

Paytm

a year ago

Absolutely credible source.
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Seeker18

Unnamed

a year ago

Wonder why it has so many job postings-mostly same roles on LinkedIn for the last couple of months
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RockYourBody

Paytm

a year ago

So that you can fire people later
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Bloom

Paytm

a year ago

Which team are you in : Tech/Prod/Business/Ops/Deaign/others
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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 😜
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RockYourBody

Paytm

a year ago

Why don't you do it?
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DarkerKnight

Stealth

a year ago

Any idea from digital marketing team? Can it be affected?
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RockYourBody

Paytm

a year ago

All teams will be affected
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Gupchup

TCS

a year ago

True, layoffs under the garb of pip
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Qwerty2398

Stealth

a year ago

If not for DEMO, they wouldn't have made this far.
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