Online payments firm Stripe is to make 300 staff redundant over the coming months as part of what is understood to be a review of some aspects of its operations.
A consultation process has been initiated with the people whose roles are expected to be impacted and this is expected to be complete within a matter of weeks.
The company did not say which areas of operations would be impacted by the job cuts but they are expected to mainly affect people in product, engineering and operations roles across a wide range of teams.
It is not clear which locations will be most impacted either but staff at a number of offices will be affected. Dublin is not anticipated to suffer more than a very small number of losses.
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The company, jointly headquartered in Dublin and San Francisco, currently employs about 8,500 people and, despite the job losses, that number is expected to climb to 10,000 by the end of the year.
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Stripe was founded by Limerick-born brothers John and Patrick Collison in 2010 and has become one of the leading forces in ecommerce payments in the years since. In December it said it had processed 465 million transactions in the period covering Black Friday to Cyber Monday, involving some $31 billion (€29.7 billion) in payments. Share transactions in late 2024 put the value of the company at more than $65 billion.
In addition to its two headquarters, the firm operates more than 20 offices across Europe, Asia, and North and South America, and current vacancies are posted for many on its website. On Tuesday, there were more than 40 jobs advertised for its Dublin operation.
The company laid off about 1,000 of its staff in 2022, then about 14 per cent of its total workforce and let a much smaller number of people, reported to have been about 40, go the following year.
It is projected to grow its headcount, however, including in Ireland where it signed an agreement last year to treble the amount of office space it occupies.
In July, it signed a lease for One Wilton Park, part of a larger development intended to have been occupied in its entirety by LinkedIn before that company scale back its plans for the site.
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