Stripe Lays Off 300, But Keeps Hiring Plans Through 2025
Fintech giant Stripe is planning to lay off 300 people, according to a leaked document obtained by Business Insider.
The employees to be laid off are mostly in product, engineering, and operations roles, according to the leaked document. Despite the layoffs, Stripe’s Chief Human Resources Officer Rob McIntosh said the company plans to grow its headcount by 17% to about 10,000 by the end of the year. That brings the total number of people currently employed at Stripe to about 8,550.
According to McIntosh, the reason for the layoffs is because Stripe has determined that it needs to make a number of changes to “put the right people in the right roles and places to execute on its plans.”
Stripe laid off 14% of its workforce in November 2022, or about 1,120 people out of a workforce of 8,000.
Although Stripe had long been expected to go public, the company continued to hold offerings to raise funds and provide liquidity for employees before taking this step. Stripe was valued at $70 billion as of July 2024.
