RockYourBody
RockYourBody
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

15mo ago
anonash
anonash
Paytm15mo

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.

Gupchup
Gupchup
Microsoft15mo

This is true, confirmed from a friend who works there

RockYourBody
RockYourBody
Paytm15mo

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

arbitdxc
arbitdxc
Mentor/Advisor15mo

Oh ok. Any idea which vertical this is.

RockYourBody
RockYourBody
Paytm15mo

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

arbitdxc
arbitdxc
Mentor/Advisor15mo

Thanks @BijaySekharSarma
Hope your job is safe.

AITookMyJob
AITookMyJob
Startup15mo

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

RockYourBody
RockYourBody
Paytm15mo

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

potatomato
potatomato
Fintech Startup15mo

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

RockYourBody
RockYourBody
Paytm15mo

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
DarkerKnight
Stealth15mo

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

marwari
marwari
Stealth15mo

It’s PIP not direct layoff.

RockYourBody
RockYourBody
Paytm15mo

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

Discover more
Curated from across