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PayPal Holdings Inc. (PYPL) plans to cut around 20% of its workforce in the next two to three years.
PayPal plans to cut around 20% of its workforce over the next two to three years.
KEY POINTS
- The reduction could eliminate more than 4,500 jobs from PayPal's current employee base.
- CEO Enrique Lores is directing the cuts as part of his turnaround strategy for PayPal.
- The workforce reduction aims to achieve at least $1.5 billion in savings within three years.
COMPANIES
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