The payments specialist has decided to reduce its workforce. And these are clean cuts that PayPal will perform!
The stock prices of American digital giants are in good shape at the start of the year. Which does not prevent, at the same time, the major players in this field from laying off workers en masse. This January we saw Google, Amazon and even Discord announce layoff plans. And the firings no longer stop, as Paypal shows today!
2,500 layoffs planned
It’s his turn. The company that provides online payments and money transfers Paypal has just made public its new layoff program. And it will be massive, since it will affect a total of 9% of its workforce, or a total of nearly 2,500 people who will lose their jobs.
Employees who see the ax fall on them will be informed of their fate by the end of the week, according to information obtained by Bloomberg. Paypal had already cut its workforce a year ago, reduced at the time by 7%, which then concerned nearly 2,000 people.
A path already taken by eBay
The objective for Paypal is to reduce its operating costs as much as possible, in an increasingly competitive economic environment. These layoffs will also be doubled by investments “ in business areas that we believe will create and accelerate growth » in the words of boss Alex Chriss.
This announcement comes just a few days after that of eBay, the American online marketplace, which for more than a decade belonged to the same group as Paypal. Management had indicated the previous week that a thousand positions were going to be eliminated, or around 9% of its overall workforce. So who will be next in line to launch a major restructuring campaign?
Source : Engadget
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