PayPal to cut workforce by 9 percent
It has been reported that the online payment system PayPal will reduce its global workforce by 9 percent.
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According to reports in the US press, PayPal Chief Executive Officer (CEO) Alex Chriss notified employees regarding the matter.
In the notification, Alex Chriss stated that the company's global workforce would be reduced by approximately 9 percent throughout the year, both through direct layoffs and the elimination of open positions.
Chriss emphasized the need for greater focus and efficiency across the company, the implementation of automation, and the consolidation of technology to reduce complexity and redundancies.