BusinessPayPal announces that it will cut 2,000 jobs, 7% of its plant

    PayPal announces that it will cut 2,000 jobs, 7% of its plant

    PayPal, the US digital payments company, announced Tuesday that lay off about 2,000 full-time workersas the company faces a “challenging macroeconomic environment.”

    The figure announced by the company represents 7% of its total workforce.

    PayPal said it will make the cuts over several weeks and some of its organizations will be affected more than others. The company did not provide further details.

    “Over the past year we have made significant progress in strengthening and reshaping our business to address the challenging macroeconomic environment, while continuing to invest to meet the needs of our customers,” PayPal Chairman and CEO Dan Schulman said Tuesday. it’s a statement.

    Read Also:   US waffle maker Eggo fined just $85,000 for releasing toxic gases

    “While we have made substantial progress on sizing our cost structure right and focusing our resources on our core strategic priorities, we have more work to do”, he assured.

    Regarding the dismissed employees, which he describes as “valued colleagues and friends”, he highlights that will offer them “generous” economic packages and it will help in their professional “transitions”.

    PayPal Holdings Inc. is scheduled to report quarterly results on February 9. The company’s shares have fallen 53% in the past year..

    The San Jose, California-based company is the latest in the tech industry to cut its workforce. During the month of January alone, companies like Google, Microsoft, Amazon, and Meta announced tens of thousands of layoffs.

    Read Also:   E. Coli outbreak at Wendy's: They ask not to buy their sandwiches with romaine lettuce

    Other companies like Twitter, amid a controversial purchase by Elon MuskSalesforce and Lyft or DoorDash, also feed the list of companies that have cut their workforce.

    Spotify, the giant of the music industry, also announced the dismissal of 600 of its workersequivalent to 6% of its workforce.

    Until a couple of weeks ago, the technology sector had cut more than 190,000 jobs, according to the website, which specializes in tracking cuts in this sector of the economy.

    Although most of the mass layoffs so far have been contained in the technology industry, with some cases such as Goldman Sachs or Hasbro, where there were also mass layoffs, for some analysts this is nothing more than a preview of what will happen. what is to come

    Read Also:   Walmart will increase the salary of its workers from February 2023

    You may also like:
    – After the wave of massive layoffs, it’s up to CEOs to cut their salaries
    – How the CEOs of Google, Amazon and Microsoft explain the massive layoffs
    – Falling inflation and a solid labor market, the Fed’s goals towards its first meeting in 2023

    Source: La Opinion

    This post is posted by Awutar staff members. Awutar is a global multimedia website. Our Email: [email protected]


    Please enter your comment!
    Please enter your name here

    13 − three =

    Subscribe & Get Latest News