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SquishyPanda
Paytm layoffs? Impact on job market
Given what RBI has gone today is effectively shut down 60-70% of Paytm’s business, to survive, Paytm will end up doing mass layoffs of a scale that we haven’t seen before in India. And potentially with limited severance (not as generous as what swiggy or Big tech has been doing) What would this mean for the rest of job market? So much unemployment in high earning folks, limited new jobs, means very tough competition for each opening and extremely bad situation in terms of appraisals and hikes too.
16mo ago
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PrancingPotato
Stealth16mo
Usually such things have ripple effects. More fintechs will introspect and evaluate their business. Major problems with fintech is either zero or very less focus on the compliances. The business team drives everything which results in major compliance issues.
QuirkyNugget
Stealth16mo
Has fampay ever faced any such notices?
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Curated from across
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 h...
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Actually, these are not layoffs. They recently changed their PIP policy and set a " at least 10%" quota for compulsor...
Indian Startups16mo
by SleepyMarshmallowZomato
Paytm gets a shock from RBI
PAYTM Payments Bank essentially asked to shut shop.
Afaik here are the few implications
- Stock market will react in a bad way to them
- Worst affected are going to be FasTag users who bought from PayTM.
- No deposits / credits...
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That stock is about to crash so fucking hard. Thank god i got out. The crappiest IPO of this decade.
This is eerily reminiscent of Razorpay debacle. Something similar has even happened to AmEx at some point in India. ...
Very bad. This was my everyday bank account for small transactions. Easy to remember account number also
Layoffs12mo
by GigglyCoconutSoftware Engineer
Paytm is laying off people since May 27 (forced resignation)
HR is having 15-20 meets everyday, anyone can confirm with their calendar.
Multiple HRs multiple laid off people. Zero severance. They are pressuring people to resign and saying you have to resign today itself!
Market is going to...
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Hence whenever a company is hiring HRBPs, know that layoffs are around the corner. If a company is hiring TA folks, h...