PayPal to have huge layoffs: 2,000 employees are fired
Many companies are having huge layoffs and now PayPal also joined the club. Here are all the details.
The latest tech company to lay off a significant number of employees is PayPal. Before, we have seen Twitter and Microsoft to have huge layoffs. After Elon Musk took over Twitter many employees were fired which resulted in many advertisers to withdraw from the company. There have been problems with the tech industry resulting in many layoffs to happen.
PayPal to have huge layoffs: 2,000 employees are fired
PayPal announced that it would lay off approximately 2,000 workers, or about 7% of its total workforce. Dan Schulman, PayPal's president and CEO, claims that the layoffs will take place over the course of the next few weeks, with some areas of the business being affected more than others.
Schulman stated, "We will support our departing colleagues in their transitions, treat our departing colleagues with the utmost respect and empathy, provide them with generous packages, engage in consultation where necessary." I would like to personally express my gratitude to them for the significant contributions they have made to PayPal. Global problems and the situation in companies have led to layoffs, and it is unclear how long this situation will continue.
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