PayPal has announced plans to reduce its workforce by 2,500 jobs, which accounts for 9% of its global employees. This decision comes just one year after a previous round of job cuts.
PayPal’s CEO, Alex Chriss, said they are making these changes to have the right number of people working in the company. Some employees will lose their jobs, and they will also not hire people for some open positions. Those who will be affected will be told about it by the end of the week.
The company introduced new products that use artificial intelligence, and they also added a feature that allows customers to check out with just one click. This decision to cut jobs comes after many other big technology companies have also laid off thousands of workers in recent months.
In the past month alone, nearly 100 technology companies, including Meta, Amazon, Microsoft, Google, TikTok, and Salesforce, have collectively announced 25,000 job layoffs.
