Stripe lays off 300 employees from product, engineering, and operations teams.

• CNBC confirmed that Stripe has laid off approximately 3.5% of its employees, which amounts to 300 jobs.
• The company plans to increase its headcount by 17% by the end of the year, despite stating that it is not slowing down on hiring.
• Staff reductions mostly impacted employees in product, engineering, and operations.

CNBC has confirmed that Stripe cut approximately 3.5% of its workforce, which amounts to about 300 jobs, mainly in product, engineering, and operations.

Despite being valued at approximately $70 billion in private markets, the payments company plans to hire an additional 10,000 employees by the end of the year, which represents a 17% increase in headcount, and is not slowing down its hiring process, as stated in a memo from Chief People Office Rob McIntosh. Business Insider previously reported on the cuts and the memo.

A Stripe spokesperson confirmed to CNBC that a cartoon image of a duck with text that read, "US-Non-California Duck," was mistakenly attached as a PDF to emails sent to some of the employees who were laid off. The emails provided affected employees with an incorrect termination date, the spokesperson said.

Staffers received an apology from McIntosh for the "notification error" and any confusion it may have caused.

He wrote that full and corrected notifications have been sent to all affected Stripes.

In 2023, Stripe had a few dozen layoffs in its recruiting department, which was a smaller percentage of its workforce compared to the 14% downsizing it experienced in 2022 due to inflation and interest rate pressures.

In 2023, Stripe's valuation decreased from $95 billion to $50 billion before reportedly increasing to $70 billion in a secondary share sale. Despite this, the company still ranked third on the CNBC Disruptor 50 list in 2022.

In October, Bridge Network, a crypto startup with technology that simplifies business transactions using digital currencies, was acquired by Stripe for $1.1 billion.

Stripe, founded by brothers Patrick and John Collison in 2010, has not shown any signs of going public and has kept away from the public markets. By 2023, the company's total payment volume had exceeded $1 trillion.

WATCH: Early Bridge investor weighs in on $1.1 billion Stripe deal