PayPal to put off 2,000 workers in coming weeks, about 7% of workforce

Supply: https://www.cnbc.com/2023/01/31/paypal-to-lay-off-2000-employees-in-coming-weeks-about-7percent-of-workforce.html

PayPal's assertion: https://newsroom.paypal-corp.com/2023-01-31-Replace-on-Our-Transformation

PayPal on Wednesday introduced plans to put off 2,000 workers, or round 7% of its workforce, in response to a launch posted to the corporate’s web site.

President and CEO Dan Schulman wrote within the launch that the corporate is working to deal with the “difficult macroeconomic surroundings.” He stated the corporate has made progress focusing assets on core priorities and rightsizing its price construction, however that there’s extra work to be accomplished.

“Change will be tough – significantly when it contains valued colleagues and pals departing,” Schulman wrote. “We are going to face this head-on collectively, drawing on the unparalleled scale of our international platform, the strategic investments we have now made to strengthen our core capabilities, and the belief and loyalty of our prospects.”