The fintech hiring hundreds at the cost of its own stock price
Things didn't go exactly to plan for payments platform Adyen when they released their Q4 earnings this week. After falling some ways below margin projections, stock plummeted by as much as 15%. Within the fintech however, there's a confident eye towards the future.
In their H2 shareholder letter the firm stressed the importance of hiring in 2023 and shared some insights on the people brought in over the last six months. They mentioned how the current climate for tech and fintech companies "supported" their hiring plans but "did not dictate them."
58% of new hires in H2 were in the technology department. These include implementation manager Andrew Lawes, a former senior manager at Morgan Stanley, and Java engineer Ranjita Katwala, formerly of Citi.
Hires in 2023 have been a mix of technology and other areas. Adyen acquired technical support engineer Anđela Filipovski from Blackrock and software engineer Varun Bumb from Goldman Sachs, but also sales managers Adam Stevens and Vidhi Godiawala who previously worked at Airwallex and Deutsche Bank respectively.
Adyen are currently hiring for 266 roles. Of those, 80 are in the technology teams of infrastructure, data and development. Don't expect those jobs to stick around forever though; the company says it will slow the hiring pace in 2024 as its expects the "team to have reached its next maturity level."
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