Digital payments firm Stripe Lays Off 14% Of Staff

Digital payments firm Stripe Lays Off More Than 1,000 Workers, 14% Of Staff

San Francisco-based Stripe became the most valuable U.S. startup last year, with a valuation of $95 billion.

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CEO wrote, Rising inflation, high interest rates, recession fears and other economic concerns mean the company needs to focus on “building differently for leaner times”.

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After the job cuts, Stripe will have about 7,000 employees.

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The layoffs come months after Stripe cut its internal valuation by 28%, according to a report.

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Digital payments firm Stripe Lays Off More Than 1,000 Workers, 14% Of Staff

San Francisco-based Stripe became the most valuable U.S. startup last year, with a valuation of $95 billion.

CEO wrote, Rising inflation, high interest rates, recession fears and other economic concerns mean the company needs to focus on “building differently for leaner times”.

After the job cuts, Stripe will have about 7,000 employees.

The layoffs come months after Stripe cut its internal valuation by 28%, according to a report.

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