Satvik Sethi, product lead of Mastercard’s NFT quits; calls out the harassing nature of the work culture in the world’s reputed firm
Satvik Sethi, product lead of Mastercard’s NFT, announced his resignation from the credit card business and global payments on Thursday. He has cited the reasons for his resignation on his Twitter platform: abuse and emotional suffering.
Satvik Sethi has claimed on his Twitter platform that he has experienced harassment and emotional abuse at the firm because of poorly managed processes, miscommunications, and internal problems. He has even mentioned that he had difficulties with the pay and was not handed his salary unless he petitioned across the hierarchy for it.
Sethi has further mentioned that he was asked to serve a notice period of three months. The extension in the notice period was an attempt to prevent him from leaving the Mastercard firm. He had previously highlighted the issue to Mastercard Human resources.
Satvik Sethi has even lost his U.S.A visa and so much more. When he was relocated to London from New York, he received a 40 percent cut in his pay due to the systematic problems in his company and was ensured that the decline in pay was ‘sporadic’.
Satvik Sethi has not disclosed his pay yet, but he has mentioned his working condition in London. He revealed that he faced harassment and a series of distress at the Mastercard firm. He had to work side jobs to make ends meet apart from the other functions that he was working for in Web3.
Satvik Sethi completed his graduation from Binghamton University in 2020 and joined the firm shortly after college. He gained the title of product lead for Blockchain and digital asset products after his interest in and expertise in decentralized computing technology.
Satvik Sethi has further stated that he has not received the same appreciation given that he has acquired such an integral position in the company. He was often looked at from an outside perspective.
He has added that he was previously informed that he would be provided with a three-month notice period during which would be paid, but, when he declared his intention of quitting, the company mentioned that he would offer one month’s compensation.
But, when he tried to negotiate regarding the matter, he stated that he was locked out of his accounts and he was given the option to either sign the agreement or lose a bonus.
In response to Satvik Sethi’s tweet, the company’s spokesperson has mentioned that the company treats each employee with decency and respect. They take the matters seriously and are currently looking into the issues concerning Mr. Sethi.
Satvik Sethi’s work resignation came out heavily as his work authorization in the U.S. expired at the same time, and he is provided with an option to return to his native country.
Sethi has mentioned his future goals, stating that he would focus on JoinCircle, a blockchain-based social networking site where he works.
The best workplace in the world: a hoax brought into light after Satvik Sethi’s resignation
Mastercard was ranked among the world’s best workplaces in 2023. The rating was based on factors such as diversity and inclusion, competition and benefits, culture and values, and work-life balance.
It becomes ironic when an employee has shared all the dark secrets of how the workforce is treated in the so-called “Highly-rated” Company.
Mastercard’s diversity and equal pay for equal work come as a fabricated statement when a company official is often seen with an outsider’s perspective and has to work multiple jobs to make ends meet, compensate between serving for extended notice periods or reduced bonuses.
Despite Sethi’s expensive contribution to his firm for the development of Web3 for Masterard Leadership and regional teams, he had to resign brutally.
He has decided to mint his resignation letter in an open-edition NFT through digital protocols named Manifold, stating that 100 percent of the contributions will go to develop his new project, named “New Beginnings”.
edited and proofread by nikita sharma