Plaid Layoffs

Today, I'm announcing the most difficult change we have had to make at Plaid to date. For Plaids in the UK and Europe, you will receive an email outlining how the process will work in accordance with your local employment laws. We saw a rapid increase in usage by our existing customers, a large number of new customers signing up for Plaid, and substantial revenue acceleration. Today, we will be parting ways with many talented teammates who have made huge contributions to Plaid over the years. We will offer 16 weeks of base bay for all departing employees plus additional weeks for those who have been with Plaid for more than one year. We will accelerate equity grants for Plaids who have been here more than one year to the February 15, 2023 vesting date. We will waive the one year cliff for Plaids with equity who haven't yet reached their one-year vesting cliff.