Adyen's Hiring Spree and Competition Cause Profits to Plummet
Shares of payments group Adyen have plunged as the company's hiring spree has impacted its profits. The company, which provides payment processing services to major companies such as Uber and Spotify, has been aggressively expanding its workforce, resulting in increased costs and lower profitability. Adyen's shares fell by over 10% following the announcement, highlighting investor concerns about the company's ability to maintain its growth trajectory while managing expenses.