PayPal is laying off 2,500 employees worldwide
- January 31, 2024
- 0
PayPal said it would lay off 9% of its global workforce, or about 2,500 people. CNBC reports this, according to Ukrinform. According to CEO Alex Criss, the cuts
PayPal said it would lay off 9% of its global workforce, or about 2,500 people.
CNBC reports this, according to Ukrinform.
According to CEO Alex Criss, the cuts will affect both existing positions and vacancies that PayPal plans to fill.
He added that this process will continue throughout the year and that employees who will leave the company will be informed by the end of the week.
“We need to focus more on efficiency across our organization, deploy process automation, and consolidate our technology to reduce complexity and duplication of functions,” the company wrote in a memo to employees.
Last week, PayPal announced the introduction of AI features that include faster checkouts, merchant recommendations for customers, and app updates for consumers.
Chriss called this the beginning of the “next chapter” for PayPal.
PayPal Holdings Inc. in August, as reported by Ukrinform. announced the appointment of Alex Criss as the company’s new CEO.
Source: Ukrinform
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