Business Leaked memo: Stripe lays off 300 employees, mostly in product, engineering, and operations - "Our confidence that this is the right business decision doesn't make it easier"

Source: https://www.businessinsider.com/stripe-layoffs-staff-payments-memo-2025-1
Archive: https://archive.is/ruvJU#selection-2329.0-2355.25

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

Jyoti Mann
Jan 21, 2025, 4:44 PM UTC

• 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 headcount.

Payments platform Stripe has laid off 300 employees, equivalent to about 3.5% of its workforce, Business Insider has learned.
The company's chief people officer, Rob McIntosh, informed staff of the cuts in an email on Monday, obtained by BI.

McIntosh said 300 employees — primarily in product, engineering, and operations — would be affected by the cuts, but that Stripe still planned on growing its headcount to about 10,000 employees by the end of the year.
Stripe declined to comment.
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.
Founded in 2010 by brothers John and Patrick Collison, Stripe provides online and in-person payment processing software tools to millions of businesses.

Read the full memo below:

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.

 

[The Mass Shooter Ron Soye]

Suffa, Stripe.

https://kiwifarms.st/threads/mad-at-the-internet.49299/post-20383224

 

[Patty Q. Anonlinson]

Apparently their engineering interview process is particularly tough. Imaging going through all that and getting canned.

Double-post:

What the hell is it with these stupid titles like "Chief People Office".

I'm sure it's these titled people personally infringing on our feeder.

"Dear Josh,

Yeah, no. I talked to our Chief Emotion Officer, our Chief Diversity Office and our Chief Fibromyalgia-Anxiety Officer
and they all agree that we unfortunately cannot support such a hateful site.

Regards,
Kevin (Chief Fuck-White-People Officer)"

 

[NoReturn]

Chief People Office

King of HR

 

[Cybertonia]

King of HR

It's ma'am of HR! You shitlord!

 

[Margo Martindale]

let me guess, they are all going to be replaced by H1B indians

 

[Haramburger]

based & wanted to post this. Expecting this to be a mention on MATI Friday. "I don't have to do anything, eventually my enemies will suffer from their own bad actions."
-Johm Potter, probably

 

[Whoopsie Daisy]

>Lay off people who design product
>Lay off people who make product
>Lay off people who sell and ship product
>Keep DEI fags
>Profit?

 

[merrybrandybuck]

Will the deepening tech crisis make your average highschool dropout boomer who bought 3 houses on an unskilled unionized job shut the fuck up about how everyone needs to be in STEM?

 

[Starved Artist]

>Fire everyone that will complain about being replaced by an indian who works for 1/15th of their salary.

It's just like Adobe. Almost an exact mirror of how Adobe and Microsoft fired everyone who, on the internal side, made sure the outgoing product was stable and quality. Now, look at Adobe and Microsoft. Shitty additions that don't do anything, features removed and replaced with features that make things worse; . Customer service that's all Indians with fake names and subscriptions out the ass. It's like the powers that Be decided to use Indians as Proxy Jews.