PayPal to Reduce Workforce 9% in Effort to ‘Right-Size'

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, ...