Google Pay is losing talent, in the form of both executives and employees, as the division struggles to gain ground.
The FinTech market is one of the hottest in the tech industry right now, but Google seems to be struggling with its Google Pay division. According to Business Insider, team members are frustrated with the slow progress of the company’s app development.
It seems the departure of Caesar Sengupta, a senior executive in charge of payments, was the tipping point for many employees and executives. Since that time, at lease seven director or vice president-level leaders have left the team.
“There’s been an exodus,” one person told BI. “I think Caesar leaving was the breaking of the dam.”
Another person said that roughly half of the employees for the Google Pay business-development team have left.
“Caesar leaving was the capstone on a lot of frustration felt by employees,” this person said. “The product wasn’t growing at the rate we wanted it to.”
The news is troubling for Google efforts in the field, and the company will clearly need to do something to right the ship.