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Stripe Cuts 14% of Staff, Was ‘Much Too Optimistic’ About E-Commerce Boom

By
Maria Heeter
· · Source: The Information

Payments giant Stripe is cutting 14% of its staff, or more than 1,000 jobs, with co-founders John and Patrick Collison saying the company had made a mistake by over-hiring with the expectation that the pandemic fueled e-commerce boom would continue. Stripe, which had a post-money valuation of $95 billion after its most recent private fundraising announced last March, is one of a number of...

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