In a message to company employees on the subject, PayPal Chief Executive (CEO) Dan Schulman stated that over the past year, they have made significant progress in strengthening and reshaping the company in a challenging macroeconomic environment, while continuing to invest to meet customers’ needs.
Emphasizing that the company has made progress by focusing resources on key priorities and properly adjusting its cost structure, Schulman said, however, there is still a lot of work to be done.
Schulman noted that tackling the challenges brings with it some difficult decisions, and that the company will lay off 2,000 employees globally, which corresponds to 7 percent of the total workforce.
Dan Schulman reported that the layoffs in question will occur in the coming weeks.
THE WAVE OF LAYOUT IS GROWING IN THE TECHNOLOGY INDUSTRY
While rising inflation and a possible recession are causing concerns in the tech industry, many tech companies, especially in the US, began deciding to lay off thousands of people or cut new hires last year.
Among these companies, the presence of leading companies in the technology sector such as Meta and Amazon was also noteworthy.
Finally, one of the US technology giants Microsoft announced that it would lay off 10 thousand employees, and Alphabet, the parent company of Google, announced that it would lay off 12 thousand employees.
According to the data of Layoffs.fyi, which tracks layoffs in the technology sector, technology companies have laid off more than 237,000 employees since the beginning of 2022. (AA)