PayPal will cut about 2,500 jobs, or 9% of global workforce
Publishing timestamp: 2024-01-30 16:59:39
Summary
PayPal will be cutting 9% of its global workforce, resulting in approximately 2500 job cuts. The cuts will affect both existing roles and job listings that PayPal had planned to hire for. The CEO, Alex Chriss, stated that the cuts are necessary to drive more focus and efficiency, deploy automation, and reduce complexity and duplication. Despite the job cuts, PayPal will continue to invest in areas of business that they believe will create and accelerate growth.
Sentiment: NEGATIVE
Keywords: labor economy, layoffs, technology, block inc, generative ai, artificial intelligence, personnel, business news, breaking news: technology, paypal holdings inc,
Source: https://www.cnbc.com/2024/01/30/paypal-will-cut-about-2500-jobs-or-9percent-of-global-workforce.html