There will likely be around 45 and 55 layoffs, some of them coming from people who had been invited to apply to internal jobs at the company, a report from Economic Times of India says.
Stripe didn’t reply to a request for comment from PYMNTS.
The layoffs come as Stripe looks at winding down TaxJar’s go-to-market efforts. And it comes as TaxJar co-founder Matt Anderson quit the company in July. He was then followed by some employees in sales, marketing and partnerships.
TaxJar provides cloud-based tax services and lets users “automatically calculate” and file taxes.
Stripe said it bought the company in order to integrate much-requested sales tax collection and remittance services.
In 2021, PYMNTS wrote that Stripe acquiring TaxJar was a way for it to work on a suite of tax tools for eCommerce companies.
Companies selling goods online face over 11,000 sales tax jurisdictions in the U.S. alone. TaxJar’s services give accurate sales tax rates at checkout which come connected to the customer’s exact address.
“There’s a reason TaxJar has been a top choice for businesses: Their software tools make it incredibly easy to handle sales tax,” Stripe CFO Dhivya Suryadevara said, adding that the service would help “millions” of internet businesses using Stripe.
Stripe has made other changes as of late, including teaming up with delivery firm Gopuff to add more ways for U.S. delivery partners to cash out earnings balances immediately.
Find out about the deal: Gopuff Teams With Stripe, Visa Direct, Others to Give US Partners Instant Cash Out Option
PYMNTS wrote that these capabilities make Gopuff one of the first instant commerce companies to offer an instant pay option for drivers.
“Now more than ever, delivery partners are looking for convenience and speed when accessing their earnings,” said Daniel Folkman, senior vice president of business at Gopuff. “We’re proud to partner with Stripe to offer U.S. delivery partners a new Instant Cash Out option, which enables them to access and use their earnings within minutes, rather than days.”
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