The Irish founders of Stripe acknowledged they have overhired staff as the tech corporation seeks to lay off 14% of its existing workforce.
The online payment company confirmed that redundancies would commence in an email sent round to its existing workforce. The company currently employs 8,000 people worldwide, 600 of whom are based in Dublin alone.
Patrick and John Collison admitted to staff they had been overly optimistic about the internet’s economic growth across 2022 and 2023. They outlined several measures that would be in place to help assist staff following job losses.
