Paypal is planning to cut about 2,500 jobs, or 9% of its global workforce, this year, according to its CEO, Alex Chriss.In a letter to staff sent on Tuesday, the newly appointed CEO 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 ...

PayPal will eliminate about 2,500 positions, or about 9% of its workforce, this year.The company aims to “right-size” its workforce by cutting jobs and by not filling open roles, PayPal CEO Alex Chriss said Tuesday (Jan. 30) in a letter to staff. Affected staff will be notified this week.“While I have been encouraged by the innovation our team is delivering, we must execute faster and ensure we are focused on solving our customers’ most critical needs and problems,” Chriss said in the letter.“Specifically, ...

PayPal will cut 9% of its global workforce, or about 2,500 jobs, CEO Alex Chriss wrote Tuesday in an internal letter to employees, which was viewed by CNBC.The cuts will affect both existing roles and job listings that PayPal had planned to hire for, and will take place over the course of the year, Chriss wrote. Affected employees will be notified by the end of the week."Across our organization, we need to drive more focus and efficiency, deploy automation, and consolidate our technology to reduce complexit ...

PayPal Holdings Inc. plans a new round of layoffs as it continues its efforts to cut costs. The company intends to reduce its workforce by 9% through a mix of layoffs and elimination of some open roles over the course of this year, PayPal PYPL, +0.01% Chief Executive Alex Chriss said Tuesday in a letter to staff that was reviewed by MarketWatch. “We are doing this to right-size our business, allowing us to move with the speed needed to deliver for our customers and drive profitable growth,” Chriss said in t ...

PayPal will cut some 2,500 jobs in the upcoming year, according to Bloomberg, marking the latest round of tech industry layoffs so far this year.The cuts will reduce PayPal’s workforce by about 9%, which includes both eliminating vacant positions and cutting jobs, CEO Alex Chriss told staff Tuesday in a letter obtained by Bloomberg. The letter reportedly said the company wanted to “right-size” PayPal, which employed some 29,900 people at the end of 2022, according to the company. This is a breaking stor ...

PayPal has begun company-wide layoffs, according to multiple reports, including an article published by The Information.It is not yet clear how many people will be affected by the job cuts but one source told TechCrunch it was expected to be in the “thousands.”TechCrunch has reached out to PayPal and will update this story if and when it responds.Nearly one year ago today, the company had announced plans to lay off 2,000 employees, or about 7% of its workforce.Over the past few months, PayPal has made a num ...

Paypal (PYPL) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this technology platform and digital payments company have returned +3.8% over the past month versus the Zacks S&P 500 composite's +3.4% change. The Zacks Internet - Software industry, to which Paypal belongs, has gained 8.2% over this period. Now the key question is: Where could the stock be headed in the n ...

As a leading global digital payment leader for 20 years, PayPal (NASDAQ:PYPL) stands out among the rest. PYPL stock has gained international recognition as a top fintech stock to own for the long term. Of course, since PayPal’s dramatic rise following the pandemic, this stock has been among the worst-performing large-cap tech players in recent years. While the company’s valuation was likely overblown during that mania-driven rally, it’s also true that the company’s strategy under former CEO Dan Schulman of ...

Editor's note: Seeking Alpha is proud to welcome Sander Heio as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to SA Premium. Click here to find out more » Justin Sullivan/Getty Images News PayPal (NASDAQ:PYPL) is a household name in the digital payment industry, and chances are, you've likely encountered its services. This thesis posits that PayPal's robust brand recognition and established trust, co ...

PayPal (PYPL 3.21%) is one of the pioneers of online commerce. But over the past few years, the fintech landscape has ballooned with new competition. While PayPal is still very much a global leader in e-commerce among merchants and consumers, investors have soured on the stock as growth concerns linger.During the past three years, PayPal stock has tumbled more than 70%. New Chief Executive Officer Alex Chriss took the reins during the latter half of 2023 and has embarked on reorganizing his management team, ...