Leaked memo: Stripe lays off 300 employees, mostly in product, engineering, and operations

• Stripe has laid off 300 staff, according to an internal memo obtained by Business Insider.
• The cuts mostly impacted staffers in product, engineering, and operations roles, per the memo.
• Rob McIntosh, chief people officer, said in the memo the company still plans to grow its head count.

Payments platform Stripe has laid off 300 employees, equivalent to about 3.5% of its workforce, Business Insider has learned.

Stripe confirmed the layoffs to BI.

The Irish-American multinational, which has dual headquarters in San Francisco and Dublin, laid off more than 1,000 employees in 2022 — equivalent to about 14% of its workforce at the time.

In mid-2023, Stripe cut a few dozen roles, mostly from its recruiting department, The Information reported at the time.

BI understands that Stripe had 8,500 employees before the latest rounds of layoffs.

Hi all,As we've been working through our plans for 2025, leaders took a close look at their organizations and team structures. It became clear that there were several team-level changes needed to make sure we have the right people in the right roles and locations to execute against our plans.It's not easy to make all these changes at once, but it's even harder to have them roll out gradually throughout the year, and so we asked leaders to do all they could to pull these decisions forward. As a result, about 300 Stripes, largely in product, engineering, and operations roles, are departing today.[0] All those who are impacted have already been informed, and everyone will receive a severance package, including their earned annual bonus.I want to be clear that we're not slowing down hiring-we expect to grow headcount across all our locations and to land at about 10,000 Stripes by the end of the year (a 17% Y/Y increase). Our business performance continues to be strong.Our confidence that this is the right business decision doesn't make it easier for those who are leaving or those losing valued teammates. I appreciate everyone's resilience and want to thank those departing for their contributions and for building with us.Rob[0] There are local processes commencing for some Stripes outside the US, in accordance with country-specific employment practices.

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