14% Layoff Announced in Digital payments firm Stripe – Here is the Detail!! Global digital payments processing company Stripe has announced that it will cut 1,000 jobs or 14 percent of its workforce. Inflation, energy shocks, high-interest rates, reduced investment budgets, and sparser startup funding are cited as reasons for this layoff.
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About 14 percent of Stripe’s workforce will leave the company, CEO Patrick Collison wrote in an email to employees about the announcement. If you are among the victims, you will receive a notification email within the next 15 minutes. We are very sorry for those who are leaving, he said. As per the information, the retrenched will be paid at least till February 21, 2023.
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He also said that he will give bonuses to all the employees in the year 2022. Apart from this, the company has said that it will provide cash equivalent for 6 months of ongoing healthcare premiums. About 7,000 employees will be employed by Stripe after the layoffs, it said. It has also been mentioned that the tenure of these employees will be increased.
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