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Stripe, the digital payments platform used by many online shopping platforms, has reportedly laid off 300 employees recently, according to a report from Business Insider.
The 300 employees reportedly laid off are from the company's development, product marketing and operations departments, according to a memo seen by the website. Notice of the layoffs was issued on Monday, and news of them broke shortly after.
Rob McIntosh, Stripe's Chief People Officer, said that despite the 300 layoffs, Stripe will still hire new employees in 2025 to increase its global workforce to 10,000 by the end of the year.
This is not the first time Stripe has cut its headcount. In 2022, it laid off around 1,000 employees, and a small number of employees were also laid off in 2023.