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Revolut cancels job offers and reviews its operations

Revolution is pulling extensive job offers for new graduates as the challenger bank continues to audit its operations and pick the numbers in an internal review dubbed “Project Prism.”

A spokesperson told PYMNTS on Wednesday morning (September 7) that job postings had been rescinded for four candidates “due to changing business needs in a specific team.” He said the company apologized to applicants and offered them financial support, as well as job search assistance like interview preparation and recruitment advice.

“This is not a sign of a broader hiring freeze; on the contrary, we are actively recruiting. We have more than 200 open positions. On our seventh anniversary (July), we surpassed 5,000 employees globally and our net headcount continues to grow,” the spokesperson told PYMNTS.

He added that Revolut was not cutting costs and had increased its “overall staffing budget” since the review began.

“We have over 300 new members month after month over the past 3 months and have publicly committed to increasing our Crypto membership by 20%,” the spokesperson told PYMNTS.

Read more: Revolut celebrates 7 years with 20 million customers

When Revolut reached its seventh year in July, it hit the milestone of 20 million customers, 250 million monthly transactions and a global workforce of over 5,000 employees. Co-founder and CEO Nikolai Storonsky said at the time that Revolut is a young company but the demand for its projects around the world is growing, PYMNTS reported.

Last valued at $33 billion, the FinTech has expanded its operations with new offices in New York, Tokyo, Madrid, Barcelona, ​​Paris, Mexico City, Berlin, Budapest and Bucharest, with additional openings in Mumbai and Bangalore, in India later this year.

Related: UK regulators review Revolut after finding audit flaws

The UK’s Financial Reporting Council found Revolut’s audits flawed earlier this week and is pushing the neobank to improve its internal controls for financial reporting, PYMNTS reported on September 5.

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