Around this time last year, PayPal announced plans to cut about 2,500 employees, or 7 percent of its workforce.
पेपाल ने किया छंटनी का ऐलान, 2,500 लोगों को गंवानी पड़ेगी नौकरी
American payments firm PayPal Holdings has started layoffs, which will affect at least 9 percent of its workforce i.e. about 2,500 employees. The company may cut its global workforce by 9%.
According to a Bloomberg report, the layoffs at PayPal were revealed in a letter from the company’s CEO Alex Chris on January 30. Chris has said in the letter that we will reduce about 9 percent of our global workforce during 2024 by direct cuts and eliminating open roles.
According to a Reuters report, PayPal’s low-margin business products have grown strongly, while the growth of its branded products has slowed due to increasing pressure from competitors like Apple.
Let us tell you, around this time last year, PayPal had announced to cut about 2,000 employees i.e. 7 percent of its workforce. The online payments company said that it was forced to take this decision.
“As our world, our customers and our competitive landscape evolve, we must continue to transform,” PayPal said in a statement. Chris joined the company as CEO last year from software company Intuit, the BBC reported. Had joined. PayPal reported its first-ever earnings in November, which exceeded analysts’ expectations.
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