PayPal announced that it plans to lay off 7% of its workforce. PayPal CEO Dan Schulman said some departments will be more affected by the layoffs than others.
PayPal said it plans to lay off about 2,000 employees at the meeting on Tuesday. According to the statement of the CEO of the company, there will be more extractions in some departments. The layoffs were said to occur in a few weeks.
Schulman stated that they will treat the dismissed people with the utmost respect and empathy, generous packages will be offered to these people and, if necessary, consultation will be provided and support will be given in this process. He also thanked PayPal for their contributions.
“Although we have made significant progress in right-sizing our cost structure and focused our resources on our core strategic priorities, we still have more work to do,” the CEO said.
PayPal has joined the list of technology companies that have been talked about laying off thousands of people in recent months. As you may recall, Google announced its plans to lay off 12,000 employees earlier this month. Microsoft also announced that 11,000 people will be laid off. The same reason for PayPal’s dismissal; Challenging macroeconomic environment.