PayPal Begins Layoffs: 2,500 Employees Fired Across Company

The tech industry continues to experience significant shifts, and the latest headline involves massive layoffs at PayPal. Following similar moves by other tech giants, PayPal will cut 9% of its global workforce, translating to approximately 2,500 jobs. The news comes just a year after a similar restructuring initiative.

CEO Alex Chriss announced the decision on Tuesday in an internal letter to employees, which was viewed by CNBC. In a strategic move to “right-size” the company, PayPal is set to cut 2,500 jobs, constituting 9% of its global workforce. Chief executive officer Alex Chriss told staff that the decision was made after careful consideration of the current market landscape.

PayPal began company-wide layoffs on Tuesday, according to multiple media reports, months after CEO Alex Chriss, who joined PayPal in September, began implementing his vision for the future of the company. Los despidos en el sector tecnológico no se detienen, y PayPal es la última empresa en anunciar un recorte masivo de personal. En un mensaje interno obtenido por…

Many are speculating about the reasons behind the layoffs. The most recent set of layoffs to make way for AI came Tuesday from digital transaction company PayPal. The fintech pioneer said it will cut 2,500 jobs by eliminating some roles to focus on artificial intelligence and other strategic priorities.

While the full impact of these layoffs remains to be seen, this move signals a significant change within PayPal as it navigates the evolving digital payments landscape. The cuts PayPal says it will cut another 2,500 jobs, or 9% of its global workforce, a year after making a similar move. This is a developing story.