The Irish-founded payments platform Stripe is to lay off 300 employees, around 3.5% of its global workforce.
The impact on its Irish operation is thought to be minimal with a small number of roles at risk.
The job cuts, which were first reported by Business Insider, will be primarily in product, engineering, and operations.
Staff were informed of the layoffs in an email from Stripe's chief people officer, Rob McIntosh.
He said that the company still planned to grow its headcount to about 10,000 employees by the end of the year, an increase of 17% on its current headcount of around 8,500 people.
Mr McIntosh said the cuts are happening because it "became clear there were several team-level changes needed" to ensure Stripe had "the right people in the right roles and locations to execute against" its plans.
In 2022, Stripe cut around 1,100 jobs, or 14% of its workers.
At its peak in 2021 Stripe was valued at $95 billion.
This fell to $50 billion in 2023 but rebounded and rose to a valuation of $70 billion last year.
Founded in 2010 by Limerick brothers Patrick and John Collison, Stripe was first declared a "unicorn" - a privately-owned company that is valued at more than $1 billion - in 2014.
