Striped logo on smartphone with dollar bills in the background.
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According to CNBC confirmation, Stripe is laying off 300 employees, accounting for about 3.5% of its total employees, mainly engaged in product, engineering and operations.
The payments company, valued at about $70 billion in private markets, still expects to increase its headcount by 10,000 people, or 17%, by the end of the year and “will not slow down hiring,” according to a memo. Staff member Rob McIntosh. business insider The layoffs and memo were reported earlier.
A spokesperson for Stripe also confirmed to CNBC that a cartoon image of a duck with the words “US non-California duck” was accidentally attached in PDF format to an email sent to some fired employees. A spokesman said some emails mistakenly provided affected employees with incorrect termination dates.
McIntosh sent a follow-up email to employees apologizing for the “error in notification” and “any confusion caused.”
“A corrected full notification has been sent to all affected Stripes,” he wrote.
2022Stripe is laying off about 1,100 people, or 14% of its workforce, joining much of the tech industry as soaring inflation and rising interest rates force companies to focus on profits rather than growth. reported information In 2023, Stripe laid off dozens of people in its recruiting department.
Stripe’s valuation falls from peak $95 billion 2021 to $50 billion Before 2023 It is said Last year, the company’s assets rebounded to $70 billion as part of a secondary stock sale. The company ranked third last year CNBC Top 50 Disruptors List.
October, stripes agree Pay $1.1 billion to Bridge Network, a crypto startup whose technology focuses on making it easier for businesses to transact using digital currencies.
Stripe, founded in 2010 by brothers Patrick and John Collison, has intentionally avoided public markets and has not indicated an upcoming offering. In 2023, the company’s total payments volume will exceed $1 trillion.
watch: Early Bridge investors weigh in on $1.1 billion Stripe deal
