Stripe is laying off 300 employees, but says it still plans to hire them in 2025
Financial technology giant tape It is laying off 300 people, according to a leaked memo it posted Tuesday Business insider.
The affected employees “largely work in product, engineering, and operations roles,” the memo said. Despite the layoffs, chief human resources officer Rob McIntosh said Stripe intends to grow its headcount by 17% “to about 10,000” by the end of the year. When you do the math, that means Stripe currently has about 8,550 employees.
McIntosh said the cuts are happening because “it has become clear that several team-level changes are needed” to ensure Stripe has “the right people in the right roles and locations to execute against” its plans.
In November 2022, Stripe announced this Laying off 14% of its employeesaffecting about 1,120 of its 8,000-person workforce.
The company had long been expected to go public, but instead continued to raise money and conduct tender offers to provide liquidity to employees. It was With a value of 70 billion dollars As of last July.
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