STRIPE CUTS 300 JOBS IN PRODUCT, ENGINEERING, AND OPERATIONS

Summary from the TLDR newsletter

Stripe has cut about 3.5% of its workforce, mostly in product, engineering, and operations. Despite this, the company plans to continue hiring and increase its headcount by 17% by the end of the year. The payments company is currently valued at about $70 billion in private markets. Stripe's founders have intentionally steered clear of public markets and have given no indication of whether an offering is on the near-term horizon. Total payment volume at the company passed $1 trillion in 2023.