PayPal to Cut 2,000 Jobs in Push to Trim Costs
- Cuts amount to about 7% of workforce at online payments firm
- Slowdown, pandemic retreat have weighed on spending growth
PayPal Holdings Inc. signage headquarters in San Jose, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
PayPal Holdings Inc. said it will cut 2,000 staffers as it contends with a macroeconomic slowdown that’s weighed on the firm’s business in recent quarters.
The cuts, which will affect about 7% of employees, will take place in the coming weeks, Chief Executive Officer Dan Schulman told employees in a memo.