Online payment platform PayPal is planning to cut about 2,500 jobs or 9% of its global workforce in 2024, Reuters reports.
In the letter to staff, newly appointed CEO Chriss said the decision was made to “right-size” the company through both direct cuts and the elimination of open roles throughout the year.
The staff that will be affected are expected to be notified by the end of the week.
“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 wrote in the letter.
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