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Fintech giantStripeis put off 300 people , allot to a leaked memo reported on Tuesday byBusiness Insider .
The affected employees are “ largely in product , technology , and operation roles , ” the memoranda read . Despite the layoffs , Chief People Officer Rob McIntosh said that Stripe intends to still grow its head count by 17 % “ to set down at about 10,000 ” by the end of the twelvemonth . Doing the maths , that intend Stripe has about 8,550 employee presently .
McIntosh say the cuts are happening because it “ became clean there were several team - level change needed ” to insure Stripe had “ the right the great unwashed in the right roles and locations to execute against ” its plan .
In November 2022 , Stripe announced that it waslaying off 14 % of its proletarian , impacting around 1,120 of its then 8,000 - person hands .
The fellowship has long been expected to go public but has instead continue to heighten funds and conduct attender offers to provide liquidity to employees . It wasvalued at $ 70 billionas of last July .
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