PayPal plans to cut 9% of its employees in coming week
The PayPal electronic payment system plans to reduce about 2.5 thousand of its full-time employees in the near future, which is 9% of the total staff, Azernews reports, citing foreign media outlets.
It talks about the decision to optimize the company through both direct cuts in the coming week and the elimination of existing vacancies during the year.
According to foreign media outlets, PayPal shares have fallen by more than 20% over the past year. In 2023, the company replaced CEO Dan Shulman. Alex Cross took over the post.
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