Stripe Employees Took 10 Percent Pay Cuts to Leave NYC, San Francisco
17th June 2021
Silicon Valley’s most valuable startup told employees they could leave its offices in New York and San Francisco to work remotely from cheaper locales, and many took the deal — despite the catch that they’d be forced to take a 10-percent salary cut.
Stripe, an online payments company valued at $95 billion, said in September that workers who moved to work elsewhere permanently would get a one-time bonus of $20,000 but also a permanent salary cut.
Now, the company’s CEO says many of the company’s 4,000-plus workers took the deal.