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Tech IPO Candidates Leap Ahead of Bigger Peers in Cutting Jobs

  • Firms reduce size due to delayed offerings in a choppy market
  • Jobs cuts are expected to spread to more firms, new industries
Updated on

Technology companies in the IPO pipeline are responding to the souring economic outlook by cutting jobs, often well before their better-known, publicly traded peers.

Startups including Stripe Inc., Chime Financial Inc. and Gopuff are among the wave of candidates for initial public offerings that recently announced workforce reductions. They join high-profile tech giants like Meta Platforms Inc., which on Wednesday announced the first major round of layoffs in the company’s history, as well as Twitter Inc., Salesforce Inc. and Peloton Interactive Inc., which are also getting rid of employees.