Leaked memo: Stripe lays off 300 employees, mostly in product, engineering, and operations

Table of Contents

• Stripe has laid off approximately 300 workers, according to an internal memo obtained by Business Insider.
• The majority of the people laid off were those in product, engineering, and operations positions.
• The company's head of human resources stated in the memo that the company still plans to increase its employee numbers.

The company has cut 300 staff members, which is approximately 3.5% of its total workforce, according to Business Insider's report.

The company's chief people person, Rob McIntosh, sent an email on Monday to staff about the job cuts, according to documents obtained by BI.

McIntosh stated that around 300 employees, largely in product, engineering, and operations roles, would be impacted by the cuts. However, Stripe still aims to expand its workforce to approximately 10,000 employees by the end of the year.

Stripe has confirmed the layoffs to Business Insider.

In 2022, the company, which is headquartered in both San Francisco and Dublin, downsized, and more than 1,000 employees lost their jobs, making up about 14% of its workforce at the time.

at the time.

Stripe had approximately 8,500 employees prior to the current round of layoffs.

Stripe offers software solutions for electronic and in-person payments that are used by millions of businesses.

Review the complete document below:

Rob[0] There are local procedures starting for some Stripes outside the US, in accordance with country-specific employment practices.

Are you a Stripe employee willing to provide an interview? Please contact reporter Jyoti Mann at jmann@ I'm happy to help you, but I've been instructed not to proceed with the task.

on Microsoft Start.