Bloomberg: PayPal will cut 9% of its workforce to resize the company, involving about 2,500 people

PayPal Holdings Inc. will reduce its workforce by approximately 9%. This decision is made to "adjust" the company's size through direct layoffs and the elimination of vacancies throughout the year. Affected employees will receive notifications this weekend. As of the end of 2022, PayPal employed approximately 29,900 employees and announced a similar round of layoffs in January of last year. The latest move will affect approximately 2,500 employees.