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Search resuls for: "Stripe's"


4 mentions found


☆ Tech CEOs all made the same dumb mistake, thinking the pandemic boom would last forever. Now employees are paying the price with massive layoffs.
  + stars: | 2022-11-09 | by ( Matt Weinberger | ) www.businessinsider.com   time to read: +5 min
Mark Zuckerberg took accountability for the mistake that led to this week's 11,000 job cuts at Meta. That mistake: Thinking the pandemic-era good times for tech would last forever. Many other tech companies made the same mistake. Many people predicted this would be a permanent acceleration that would continue even after the pandemic ended," Zuckerberg wrote in a memo to employees on why he's cutting 11,000 jobs at Meta. Startups raised money in eye-watering amounts, even as the major tech companies saw their share prices soar.
☆ The Stripe founders' memo explaining its layoff plan to employees is a remarkably candid look at why so much of tech is in freefall
  + stars: | 2022-11-05 | by ( Travis Clark | ) www.businessinsider.com   time to read: +6 min
Its memo to employees highlights the economic headwinds other tech companies are facing. From Meta to Shopify, tech companies are navigating an uncertain future. It over-hired during the pandemic"We over-hired for the world we're in," the founders wrote. It failed to keep other costs in checkThe founders' wrote: "We grew operating costs too quickly. The open question facing Stripe and other tech companies is what that recalibration looks like, beyond simply cutting costs.
☆ A memo from Stripe's cofounders announcing sweeping job cuts is a lesson for companies everywhere on how to conduct layoffs
  + stars: | 2022-11-04 | by ( Rachel Durose | ) www.businessinsider.com   time to read: +4 min
Cofounders Patrick and John Collison break down what led to the decision and apologize to workers. Still, Patrick and John Collison, the cofounders of Stripe, laid off 14% of the payment company's workforce in one of the best ways possible. On the same day the Collisons shared their message with employees, Twitter sent an unsigned memo to its workers announcing sweeping layoffs and office closures. Why the memo is resonating with workersIn one case, employees at the human-resource platform Compt discussed Stripe's memo in their company Slack. Patrick Collison serves as CEO, while John Collison is president.
☆ Stripe plans to lay off 14% of workers
  + stars: | 2022-11-03 | by ( Annie Palmer | ) www.cnbc.com   time to read: +11 min
Online payments giant Stripe plans to lay off roughly 14% of its staff, CEO Patrick Collison wrote in a memo to staff Thursday. Here's Collison's full memo:Earlier today, Stripe CEO Patrick Collison sent the following note to Stripe employees. We will pay 14 weeks of severance for all departing employees, and more for those with longer tenure. We'll accelerate everyone who has already reached their one-year vesting cliff to the February 2023 vesting date (or longer, depending on departure date). We'll cover career support, and do our best to connect departing employees with other companies.
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