Payments firm PayPal to reduce global workforce by 9% in 2024

Published by
Reuters UK

By Hannah Lang and Manya Saini (Reuters) -Payments firm PayPal Holdings is planning to cut about 2,500 jobs, or 9% of its global workforce, this year, a letter from CEO Alex Chriss, seen by Reuters, showed on Tuesday. In the letter to staff, newly appointed CEO Chriss said the decision was made to “right-size” the company through both direct cuts and the elimination of open roles throughout the year. The staff that will be affected are expected to be notified by the end of the week. “We are doing this to right-size our business, allowing us to move with the speed needed to deliver for our cust…

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