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"PayPal to Cut 9% of Staff in Company Wide Layoffs"
Stay on top of your eCommerce news through The Information
The Information's tech and finance reporting team recently broke the news about PayPal's latest layoffs. The fintech giant, led by CEO Alex Chriss, cut 9% of its staff as part of an effort to streamline operations and bolster profitability. The layoffs, affecting various departments, including engineering and research and development, reflect Chriss' focus on cost reduction.
This move mirrors a broader industry trend seen in major tech companies like Amazon, Microsoft, and Meta Platforms, all implementing layoffs in the early months of 2024.
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