Stripe announces to cut over 1,000 jobs, or 14% of its staff
Image Credit: economic times
Global payment processing firm Stripe announced to cut over 1,000 jobs. The payment processor cited "stubborn inflation, energy shocks, higher interest rates, reduced investment budgets, and sparser startup funding" as reasons for its decision. CEO Patrick Collison wrote an email to Stripe employees, saying the company is reducing the size of its team by around 14% and saying goodbye to many talented Stripes in the process.