PayPal did not specify which teams in the company will be particularly affected, saying only that some internal organizations will be more affected than others. The proportion of layoffs is equivalent to about 2,000 affected workers.
In addition, it was also not clarified if the workers of Venmo, a money transfer application owned by PayPal, will also be affected.
January was characterized by massive layoffs at Google, Spotify, Salesforce, Amazon, Microsoft; Not to mention that, last year, more than 47,000 employees of technology companies in the well-known Bay Area of San Francisco, California, were laid off. In January alone, up until PayPal’s announcement, more than 75,000 workers had been laid off by Big Tech.
“Change can be difficult, especially when it includes the departure of valued colleagues and friends. We will face this head on together, leveraging the unparalleled scale of our global platform,” PayPal told its workers.
