PayPal Cutting 2,500 Jobs This Year, Report Says

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 ...