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PayPal will accelerate its adoption of artificial intelligence to cut costs.
PayPal will accelerate AI adoption to achieve at least $1.5 billion in cost savings by 2027.
KEY POINTS
- The company has not specified if AI-driven cost cuts will lead to employee layoffs.
- PayPal is reorganizing into three business units to improve accountability and align with growth areas.
- Adjusted first-quarter earnings at $1.34 per share exceeded analyst expectations of $1.27 per share.
- Second quarter adjusted earnings and transaction margin dollars are both projected to decline.
COMPANIES
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