Twitter is planning thousands of job cuts, and other companies are paring back after unprecedented growth during the pandemic. Read More...
Reuters
Digital payments firm Stripe to lay off 14% of workforce
After the job cuts, Stripe will have about 7,000 employees, according to an email to employees from founders Patrick and John Collison on Thursday. The layoffs come months after Stripe cut its internal valuation by 28%, according to a report. “We were much too optimistic about the internet economy’s near-term growth in 2022 and 2023 and underestimated both the likelihood and impact of a broader slowdown,” Stripe’s founders said in the email, adding that they had overhired and grew operating costs too quickly.
