Stripe, the fintech leader, announced layoffs of 300 employees, mainly in product, engineering, and operations. Despite this, plans for a 17% workforce expansion to approximately 10,000 employees by year-end remain intact. Chief People Officer, Rob McIntosh, stated the layoffs would help align the workforce effectively to meet the company's strategic goals. These cuts follow last year's reduction of 14%, highlighting continued adjustments within the company. Stripe, valued at $70 billion, is exploring opportunities to raise more funds while awaiting a public offering.
Fintech giant Stripe is laying off 300 employees, primarily in product, engineering, and operations, but plans to grow its workforce to around 10,000 by year-end.
The cuts are necessary for restructuring, focusing on having the right people in the correct roles to meet Stripe's future plans.
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