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		</div><p>Stripe announced lays off 14% of global workforce</p>
<p>Stripe the digital payment firm based in Dublin has announced a 14% cut in their total workforce.<br />
Founded in 2010 by Limerick brothers John and Patrick Collison, Stripe valued at $95 billion emailed employees on Thursday stating this workforce cut.</p>
<p>The digital payment giant suffered losses earlier on this year as the US technology stocks slumped tremendously crushing several technology companies in the US.</p>
<p>According to a report, the layoffs announcement came about after Stripe cut its internal valuation by 28 percent a few months ago.</p>
<p>&#8220;We were much too optimistic about the internet economy&#8217;s near-term growth in 2022 and 2023 and underestimated both the likelihood and impact of a broader slowdown,&#8221; the founders said in the email.</p>
<p>The Collison&#8217;s added they had overhired and grew operating costs too quickly.</p>
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