McIntosh said the cuts are happening because it “became clear there were several team-level changes needed” to ensure Stripe had “the right people in the right roles and locations to execute against” its plans.
In November 2022, Stripe announced that it was laying off 14% of its workers, impacting around 1,120 of its then 8,000-person workforce.
The company has long been expected to go public but has instead continued to raise funds and conduct tender offers to provide liquidity to employees. It was valued at $70 billion as of last July.