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.