PayPal is cutting 2,500 jobs, slashing its workforce by 9 percent –

Although layoffs are a very big talking point in the gaming industry, layoffs are not limited to video games. Big tech is also cutting jobs as part of cost-cutting measures, and the latest to make these changes is PayPal, which has decided to reduce its global workforce by 9%, cutting about 2,500 jobs.
Confirmed as part of a message sent by President and CEO Alex Chriss to all PayPal employees, it is claimed that the reason behind the layoffs is in the spirit of straightening out the size of the company as a whole, and so that it “can move at the speed needed to deliver for our customers and drive profitable growth ” while remaining “investing in areas of the business that we believe will create and accelerate growth.”

Admittedly, this is pretty much exec-speak for cutting jobs to ensure financial revenue targets are met, something we will no doubt see in force when the full annual financial reports for the current fiscal year are shared in early April.

PayPal also laid off about 2,000 employees around this time last year, again in an effort to cut costs.