Stripe Lays Off 300 Employees But Plans to Hire More in 2025

Stripe Lays Off 300 Employees But Plans to Hire More in 2025

On January 21, 2025, news broke that Stripe, a leading financial services and payments company, was laying off 300 employees. This news came as a shock to many in the tech industry, as Stripe has been a major player in the fintech space for years and is known for its innovative products and services. The Layoffs According to a leaked memo reported by Business Insider, the affected employees were "largely in product, engineering, and operations roles." The memo went on to say that despite the layoffs, Stripe's Chief People Officer, Rob McIntosh, assured that the company still intended to grow its headcount by 17% "to land at about 10,000" by the end of the year. This suggests that Stripe currently has around 8,550 employees. Reasons for the Layoffs McIntosh explained that the cuts were happening because "it became clear there were several team-level changes needed" to ensure Stripe had "the right people in the right roles and locations to execute agai…