Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
The fintech giant Strip It is laying off 300 people, according to a leaked memo on Tuesday Business Insider.
Affected employees are “predominantly in product, engineering and operations roles,” he said. Despite the layoffs, Chief People Officer Rob McIntosh said Stripe still plans to increase its headcount by 17% by the end of the year, “down to about 10,000 people.” If we do the math, that means Stripe currently has 8,550 employees.
McIntosh said the layoffs came as “it became clear that changes were needed at several team levels” to ensure “we have the right people in the right roles and in the right places” against Stripe’s plans.
In November 2022, Stripe announced that it had lays off 14% of its employeesaffecting 1,120 of the then 8,000-person workforce.
The company had long been expected to go public, but instead continued to raise funds and hold tender offers to provide liquidity to employees. it happened It is valued at 70 billion dollars until last July.
Want more fintech news in your inbox? Sign up for TechCrunch Fintech here.
Want to get in touch with a tip? Send me an email maryann@techcrunch.com or text me on Signal at 408.204.3036. You can also send a note to the entire TechCrunch team tips@techcrunch.com. For more secure communication, Click here to contact usthis includes links to SecureDrop and encrypted messaging apps.
