Stripe Lays off 14% Workforce – 1100 Employees

Image Coutesy - Bitcoinist

Stripe Inc, the digital payments giant which was valued at $95 billion in its last funding round, is cutting its headcount by about 14% as startups trying to navigate a tough investment market rush to rein in costs.

After the job cuts, Stripe will have about 7,000 employees, according to an email to employees from founders Patrick and John Collison on Thursday.

U.S. technology stocks have been crushed this year as tightening monetary policy and worries of a looming recession soured investor sentiment.

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