By Daniel Lanyon on Wednesday 1 February 2023
Neo banking challenger is one of the few fintech ‘decacorns’ to continue to hire amid wider layoffs in the tech sector.
The fintech world may still be waiting for Revolut’s much anticipated 2021 results, but the company has given more than a hint of its optimistic future plans.
In the coming years the company is planning a new hiring spree, with plans to create 1700 new jobs, according to Chris Yankson, head of recruitment at Revolut told the Evening Standard.
“People often view layoffs as the fault of the individual but it’s clear at the moment that it’s the fault of businesses over-hiring,” he said.
“You have some tech companies who thought the revenue growth they saw during the pandemic was going to be constant, but given current economic conditions they’ve discovered they’re a little overstretched,” he added.
“There has been a more cautious approach by British tech firms, who have taken a more measured strategy for recruiting new people and for whom increasing headcount isn’t seen as the only lever towards achieving growth,” he said.
The plans counter a persistent trend in the fintech and wider tech sector of companies scaling back hiring or making substantial layoffs in order to cut costs.
These include tech giants such as Paypal, Amazon, Meta and Google as well names specific to the fintech world such as Plaid, Stripe and Chime
