PayPal to cut another 9% of its workforce in continued bid to rein in costs

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 ...