business / news / / The Economic Times
PayPal layoffs strategy under new CEO explained: Paypal is set for a major internal change.
PayPal plans to cut approximately 20% of its workforce over the next two to three years.
KEY POINTS
- 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
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