Stripe

Online payments giant Stripe is laying off roughly 14% of its staff, CEO Patrick Collison wrote in a memo to staff Thursday.

So, in addition to the headcount changes described above (which will return us to our February headcount of almost 7,000 people), we are firmly reining in all other sources of cost. While the changes today are painful, we feel very good about the prospects for innovative businesses and about Stripe's position in the internet economy. We overhired for the world we're in (more on that below), and it pains us to be unable to deliver the experience that we hoped that those impacted would have at Stripe. (In service of that, we're creating alumni.stripe.com email addresses for everyone departing, and we're going to roll this out to all former employees in the months ahead.) In our view, we made two very consequential mistakes, and we want to highlight them here since they're important: Most importantly, while this is definitely not the separation we would have wanted or imagined when we were making hiring decisions, we want everyone that is leaving to know that we care about you as former colleagues and appreciate everything you've done for Stripe. We have extensive dedicated support lined up for those of you here on visas (you'll receive an email setting up a consultation within a few hours), and we'll be supporting transitions to non-employment visas wherever we can. We're reducing the size of our team by around 14% and saying goodbye to many talented Stripes in the process. However, we do need to match the pace of our investments with the realities around us. We have always taken pride in being a capital efficient business and we think this attribute is important to preserve. [Amazon](/quotes/AMZN/), Google parent [Alphabet](/quotes/GOOGL/) and Facebook owner [Meta](/quotes/META/) have all taken steps to rein in expenses. A Stripe spokesperson was not immediately available to provide the exact number of impacted employees.