US-based fintech giant Stripe faced backlash after mistakenly including a cartoon image of a yellow duck in layoff notifications sent to some employees. The image, labelled "US-Non-California Duck," was attached to termination emails as the company announced it would lay off 300 employees, or about 3.5% of its global workforce.
The error, confirmed by a Stripe spokesperson, occurred during the company’s internal process of notifying impacted employees. The layoffs were first reported by Business Insider and later addressed in a memo to staff by Rob McIntosh, Stripe’s Chief People Officer.
“Some impacted Stripes received a notification error to their personal email accounts,” McIntosh wrote in the memo, which was also shared with CNN. “I apologise for the error and any confusion it caused. Corrected and full notifications have since been sent to all impacted Stripes.”
Adding to the confusion, some employees received incorrect termination dates in their emails. The company acknowledged these errors and issued an apology to those affected.
The layoffs, part of Stripe’s annual review and growth strategy, primarily impacted employees in product and operations roles, though some engineering staff were also affected. Before the layoffs, Stripe had a workforce of approximately 8,850 employees. The company aims to expand its workforce to 10,000 by the end of 2025, despite the recent cuts.
Stripe, one of the most valuable private startups in the United States with a valuation of $65 billion, framed the decision as necessary to align roles with business priorities. “The decision ensures we have the right people in the right roles to get things done,” McIntosh stated.
This is not the first time Stripe has undertaken layoffs. In November 2022, the company reduced its workforce by 14%, cutting 1,120 jobs amid widespread layoffs in the tech sector.
Headquartered in South San Francisco, with dual headquarters in Dublin, Stripe is the largest privately-owned fintech firm globally. While speculation around a public offering persists, the company has focused on raising private funds and providing employee liquidity through tender offers. Its most recent valuation reached $70 billion in July 2023.
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