Flipkart-owned digital payments firm PhonePe is restructuring the company in a bid to make it a flatter organization. The company is planning to increase its workforce by nearly 20-30 percent. The firm is planning to do so by hiring 500 more employees by the end of 2020, starting with the engineering team, which currently has about 300 people.
“As you know, the situation is not good in the ecosystem, so really good individuals are finding themselves losing a job. The available pool in the market looking out is obviously bigger,” said Rahul Chari, Co-founder and CTO of PhonePe.
Amid the outbreak of Covid-19 while several firms are sacking their employees, PhonePe’s leadership is expected to take this as an opportunity to recruit top talent from this larger available talent pool. While broadening and strengthening the engineering team is a prime focus for PhonePe.
“From day one we have been an engineering-centric company. A lot of what we built, engineering and product were at the core of it. Over the last three years, a lot of product lines have matured. As they mature, other functions start playing an important role – business development, marketing, finance, legal,” said Chari.