PayPal, the cutting-edge technology company, has announced employee layoffs. The company stated that it will be letting go of approximately 9% of its workforce, encompassing both current employees and open positions. This strategic move aims to align the company’s size with its business needs, allowing for faster product delivery to customers and focusing on essential investments for future growth.
It is worth noting that PayPal had previously conducted employee layoffs about a year ago, affecting around 2,000 individuals, which accounted for 7% of its workforce at that time.
TLDR: PayPal, a leading technology company, is implementing employee layoffs of approximately 9% to optimize its operations and ensure swift product delivery. This move follows a similar downsizing measure last year when 7% of employees were affected.
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