Stripe has recently laid off approximately 300 employees, representing 3.5% of its workforce, as reported by Business Insider.
The layoffs primarily affect product, engineering, and operations positions, according to a memo from Chief People Officer Rob McIntosh. Prior to this decision, Stripe had around 8,500 employees but still intends to increase its headcount by 17%, aiming for a total of 10,000 by the end of the year, McIntosh noted.
In the memo, he stated, “It became clear that there were several team-level changes needed to ensure we have the right people in the right roles and locations to execute against our plans,” as referenced by Business Insider.