Online payment giant Stripe laying off 14 percent of workforce ...Middle East

The Hill - Technology

The online payment giant Stripe is laying off around 14 percent of its staff, according to a memo sent to staff Thursday from CEO Patrick Collison. Rising inflation, high interest rates, recession fears and other economic concerns mean the company needs to focus on “building differently for leaner times,” the CEO wrote. “At the outset of the pandemic in 2020, the world rotated overnight towards e-commerce... The world is now shifting again. We are facing stubborn inflation, energy shocks, higher interest rates, reduced investment budgets, and sparser startup funding,” Collison said. "We think that 2022 represents the beginning of a different economic climate.” But in additio

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Last updated : 03 Nov 2022 clock 06:44 PM

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Online payment giant Stripe laying off 14 percent of workforce ...Middle East

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