PayPal lays off 2,000 employees

PayPal president and CEO Dan Schulman’a The layoffs will occur over the next few weeks, with some parts of the company more likely to be affected than others, according to the report.

Schulman, “To our departed colleagues, respect and we will act with empathy, we will offer them generous packages,” he said. “PayPal’a I want to express my personal appreciation for the meaningful contributions they have made.”

With this, the company joins the list of other tech companies that have announced layoffs in recent months. Earlier this month, announced plans to lay off 12,000 employees, or about six percent of its global workforce. Before this , 10.000 He said he was going to fire the person.

PayPal lays off 2,000 employees

Schulman, , Like its counterparts at and other tech firms, PayPal’s dismissal has resulted in the “difficult macro-economic conditions” in which the company has found itself recently. from the environment held responsible. “While we have made significant progress in right-sizing our cost structure and focus our resources on our core strategic priorities, we still have more work to do,” he said.

It is worth noting that the US economy has not yet entered a recession. The national unemployment rate is 3.5%, a 50-year low, but gross domestic product has grown in recent quarters. Especially PayPal Wall Street beat expectations on its most recent earnings call, with annual earnings and revenues up 11% and 7%, respectively.

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