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MODERATEAI LAYOFF
PayPal: 2,500 jobs cut
January 30, 2024USFintechPayPal
PayPal cut 9% of its global workforce (about 2,500 jobs) to 'right-size' the business. CEO Alex Chriss cited the need to deploy automation and consolidate technology to reduce complexity and duplication. Simultaneously launched AI-powered checkout and merchant recommendation features.
Conservative
0
Core Estimate
1,000
Upper Bound
1,750
Sources
PrimaryCNBCJanuary 30, 2024
PayPal cuts 2,500 jobs (9% of workforce) while deploying AI automation and consolidating technology
PayPal cut 9% of its global workforce (about 2,500 jobs) to 'right-size' the business. CEO Alex Chriss cited the need to deploy automation and consolidate technology to reduce complexity and duplication. Simultaneously launched AI-powered checkout and merchant recommendation features.