PayPal will cut 2 thousand employees - News - Finance - Kommersant
PayPal has announced that it will lay off 2,000 people, which is 7% of its total workforce. AT circulation To employees posted on PayPal's website, PayPal President and CEO Dan Schulman explained that the decision to cut was due to "very challenging macroeconomic conditions."
The company has made significant progress "in managing its cost structure and focusing resources on key strategic objectives," but "much more needs to be done," he said. Calling the announcement of layoffs "hard news," Shulman said the layoffs would take place in the coming weeks, with outgoing employees receiving "generous payouts and support."
PayPal is not the first major company to announce layoffs. Over the past month, similar measures have been announced, including Amazon, Alphabet, Microsoft3M, SpotifyIBM, SAP, Dow. Shares of PayPal on the NASDAQ stock exchange after the address of the head of the company to employees rose by 2%.
