# PayPal layoffs strategy under new CEO explained: Paypal is set for a major internal change.

*business · news · 2026-05-06 · The Economic Times*

## Key points

- PayPal plans to cut approximately 20% of its workforce over the next two to three years.
- This restructuring aims to save at least $1.5 billion and modernize PayPal's technology base.
- New CEO Enrique Lores has reorganized business units and assigned new leadership in payments and checkout.
- Venmo's payment volume grew 14%, while PayPal's core branded checkout business continued to decline.

**Companies:** PayPal
**Countries:** United States

[Read the full story on The Economic Times](https://economictimes.indiatimes.com/news/international/us/paypal-layoffs-alert-why-the-company-plans-to-cut-20-of-jobs-under-new-ceo-enrique-lores-as-analysts-warn-of-growth-challenges-heres-what-investors-need-to-know/articleshow/130868961.cms)

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