By Raúl Rodríguez Cota
PayPal announced that it will cut a number of employees. And more than 2,500 workers, which represents 9% of the company’s global team, will be affected by this measure.
This decision was shared by the company’s CEO, Alex Chriss, in a letter addressed to all staff.
The restructuring, which will take place throughout the year, will cover both current positions and planned future hires.
The cause of these layoffs is because the company wants to make its processes faster and start using more automated technology.
Chriss highlighted PayPal’s commitment to continue investing in strategic areas that promote growth and innovation within the firm.
Recently, PayPal announced that it is starting to work on new tools that use artificial intelligence. This is a big change since Chriss, who previously worked at Intuit, became the company’s boss in September.
New features include a faster checkout process, AI-powered business recommendations for users, and a complete revamp of the consumer app.
Although these adjustments are complicated, their purpose is to keep PayPal ahead in the world of financial technology. The idea is to better serve what customers need and foster a culture of continuous innovation.
With these measures, PayPal aims to improve its operation and remain one of the main companies in the online payments sector.
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