American online payment company Stripe will lay off 14% of its staff this week. More than 1,000 people will be affected.

Sina Science and Technology News Beijing time on the evening of November 3, it is reported that digital payment processing service Stripe announced today that in order to control costs before the economic downturn, the company will lay off 14%, about 1000 people.

Patrick Collison and John Collison, co-founders of Stripe, one of the world's most valuable start-ups, said in an email to employees that the company would cut 14 per cent of its workforce this week, bringing the total to about 7000.

In addition, in response to the economic downturn, Stripe needs to cut spending more widely. The two founders also said the recruitment business would be affected. Next year, the company will reduce the number of employees hired. Employees who are about to leave will receive at least 14 weeks of severance pay. In addition, these employees will receive annual bonuses and unused paid holidays.