Get the latest tech news
PayPal To Cut About 2,500 Jobs as Rivals Snag Market Share
PayPal will reduce its workforce by about 9 per cent this year as chief executive Alex Chriss, who took over in September, grapples with rising competition, profit pressures and a raft of analyst downgrades. From a report: In a letter to staff on Tuesday, Mr Chriss said the decision was made to "rig...
PayPal will reduce its workforce by about 9 per cent this year as chief executive Alex Chriss, who took over in September, grapples with rising competition, profit pressures and a raft of analyst downgrades. From a report: In a letter to staff on Tuesday, Mr Chriss said the decision was made to "right-size" the company through both direct cuts and the elimination of open roles throughout the year. PayPal, which employed about 29,900 workers at the end of 2022, announced a similar round of cuts last January.
Or read this on Slashdot
