PayPal to cut 2,000 jobs in latest tech company cost-cutting

Published January 31, 2023 1:22 pm

SAN JOSE, Calif. (AP) — PayPal Inc. says it will trim about 7% of its total workforce, or about 2,000 full-time workers, as the digital payments company contends with a challenging economic environment. PayPal said it will make reductions over several weeks with some organizations affected more than others. The company did not further specify. San, Jose, California-based PayPal is the parent of Venmo, Xoom and Honey, among other brands. The move is the latest announcement by a technology company to trim its headcount. During the month of January alone, Google, Microsoft and Salesforce have announced tens of thousands of layoffs.

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