According to a business insider report, the main financial technology company quickly recognized the error. Stripe would be the second most valued startup in the Bay Area. Rob McIntosh, Director of Human Resources at Stripe, then apologized by email to the employees concerned: “I apologize for the error and all confusion it caused. Corrected and complete notifications have since been sent to all the stripes concerned. »»
Details of the layoff
The layoffs mainly affected employees with positions related to products and operations, although some employees in the engineering sector have also been affected. To worsen the problem, some employees have received incorrect dismissal dates in their emails.
Stripe, whose head office is located in the south of San Francisco and whose head office is located in Dublin, currently employs 8,550 people after the last series of job cuts. The company is the largest private financial technology company, valued at around $ 65 billion.
Despite layoffs, McIntosh explained that the decision had been made to ensure that the company “Good people in the right roles to get things done. »» Stripe maintains a growth target of 17 % by 2025 and aims to reach 10,000 employees by the end of this year.
History of Stripe layoffs
This is the second wave of layoffs at Stripe in recent years. In November 2022, the company abolished 1,120 employees, or 14 % of its workforce of the time.
While a public offer was planned, Stripe has rather raised private funds and provided liquidity to employees through public purchase offers. The last valuation of the company reached $ 70 billion in July 2023.
The duck accident drawn, although infection, drew attention to internal Stripe communications for a difficult period for the company and its employees.