Stripe is On a Hiring Spree. But It's Also Rescinding Job Offers and Angering Engineers.
The prevailing narrative about tech workers assumes that they have more power than ever before. This even has a term -- the Great Resignation. But at the booming, much-revered payments company Stripe, some applicants have found themselves accepting job offers only to learn they have been rescinded without warning. From a report: Protocol spoke with two Stripe candidates who received either verbal or written offers from the company and then had those offers revoked because of "shifting business priorities." (We reviewed their communications with Stripe recruiters, including the offer letter, to confirm the candidates' stories). Protocol also spoke with a former Stripe recruiter who described the company as embracing a "hire and fire" mentality and constantly shifting priorities and reorganizing staff. All three of these sources were granted anonymity for fear of repercussions by their current and potential future employers. Protocol also reviewed multiple online complaints detailing similar rescinded offers; the most prominent of these complaints was posted on Hacker News and received a rousing defense of Stripe from Coinbase CEO Brian Armstrong. "We want everyone who interacts with Stripe during a recruiting process to be treated professionally and with respect. We value feedback and are always looking for ways to improve our recruiting experience," a Stripe spokesperson wrote to Protocol. Stripe, which has the highest valuation of any private, venture-backed tech company in the U.S., has grown so rapidly over the last few years that many engineers and other tech workers see it as one of the most desirable, successful places to work. The former recruiter interviewed by Protocol said that she chose the job over offers at Google and two other tech companies, in part because of the extremely positive and enthusiastic way the company was sold to her and because of Stripe's reputation in the industry.
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