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Stripe Cuts Headcount by 14%, Prepares for ‘Leaner Times’

  • Payments company seeks to return headcount to almost 7,000
  • ‘We were much too optimistic,’ Collison brothers tell staffers
Bloomberg business news
Stripe Cutting Staff by 14%, Readies for 'Leaner Times'
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Stripe Inc., one of the world’s most valuable startups, will cut more than 1,000 jobs as it seeks to rein in costs ahead of any economic downturn. 

The payments company will cut its workforce by 14% this week, returning headcount to the almost 7,000 total from February, co-founders Patrick and John Collison said in an email to staff seen by Bloomberg News. The two vowed to trim expenses more broadly as they prepare for “leaner times.”