PayPal to cut 2,000 jobs in latest tech company cost-cutting

Last summer activist investor Elliott Management bought a stake then worth about $2 billion in PayPal, which said it had entered into an “information-sharing agreement” with Elliott “to continue collaboration across a range of value-creation opportunities.”

“Over the past year, we made significant progress in strengthening and reshaping our company to address the challenging macro-economic environment while continuing to invest to meet our customers’ needs,” PayPal President and CEO Dan Schulman said Tuesday in a statement. “While we have made substantial progress in right-sizing our cost structure, and focused our resources on our core strategic priorities, we have more work to do.”Shares of the company are down about 53% in the past year.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

PayPal to cut 2,000 jobs in latest round of layoffs for tech industryOnline payments giant PayPal said Tuesday that it plans to cut 7% of its total workforce, joining other major Silicon Valley companies in announcing layoffs.
La source: KPIXtv - 🏆 443. / 53 Lire la suite »

PayPal plans to lay off 2,000 workers, or 7% of staff - Silicon Valley Business JournalAfter two rounds of job cuts last year, PayPal is shedding staff once again.
La source: svbizjournal - 🏆 334. / 59 Lire la suite »

PayPal plans to lay off 2,000 workers, or 7% of staff - Silicon Valley Business JournalAfter two rounds of job cuts last year, PayPal is shedding staff once again.
La source: svbizjournal - 🏆 334. / 59 Lire la suite »