Online payments giant Stripe is  

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laying off roughly 14% of its staff 

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CEO Patrick Collison wrote in a memo to staff  

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In the memo, Collison said 

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the cuts were necessary amid rising inflation, fears 

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of a looming recession, higher interest rates, 

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energy shocks, tighter investment budgets 

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and sparser startup funding  

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Taken together, these factors signal  

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“that 2022 represents the beginning 

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of a different economic climate,” he said 

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Stripe said its head count will be 

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reduced to about 7,000 employees, which 

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means the layoffs will impact 

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roughly 1,100 people  

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