Pluxee, the French company Sodexo’s Benefits and Rewards services unit that has been recently renamed, is planning a hiring spree following its plans to spin off announced in April. The company plans to hire about 1,000 workers in the tech and data operations department in 2024, according to a Reuters report.
“We are talking about a market potential in terms of spend from companies of roughly 1000 billion euro, so it’s massive and still quite under penetrated because many small and mid-size companies are still not providing employee benefits”, the company’s chief executive officer Aurelien Sonet said and as reported by Reuters.
Amid its expansion plans, Pluxee will invest 10% of its turnover in tech each year through 2025. The news follows Sodexo’s announcement in April about its plans to spin off and list its voucher business during 2024 as the company bet on the good performance of its business. Another Reuters report highlighted that Voucher groups like Sodexo are benefitting from the cost-of-living crisis as employers explore methods to support their workers without raising wages. Pluxee employs 5,000 in 31 countries.
About Sodexo’s employee benefits and rewards segment, the French company offers various solutions like attractive perks and incentives to support employee well-being and engagement. These include meal and food vouchers, gift cards, incentive programs, and employee recognition initiatives. Sodexo’s employee benefits programs are designed to enhance workplace satisfaction, productivity, and loyalty.
On a different note, Sodexo’s hiring spree contrast with the ongoing job cuts, especially in the tech sector. Several tech companies including Mark Zuckerberg-led Meta, Sundar Pichai-led Alphabet, Elon Musk-led Twitter, and Satya Nadella-led Microsoft, among others, have laid off thousands of employees in an attempt to gear up for a global economic slowdown. In a nutshell, a setback in consumer spending due to high inflation and interest rates along with the threat of a looming recession this year has pushed corporates to keep a lid on their spending.