Meta, Twitter, Stripe, Robinhood, Lyft, Netflix. Here's an overview of Bay Area tech companies that have recently executed a mass layoff.
The company saw overall sales fall 4% to $27.71 billion in the latest quarter. Operating income dropped 46% from the previous year. This while costs and expenses rose 19% to $22.1 billion.
"Around 14% of people at Stripe will be leaving the company. We, the founders, made this decision. We overhired for the world we're in , and it pains us to be unable to deliver the experience that we hoped that those impacted would have at Stripe," he said.
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