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.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

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.
Herkunft: KPIXtv - 🏆 443. / 53 Weiterlesen »

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.
Herkunft: svbizjournal - 🏆 334. / 59 Weiterlesen »

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.
Herkunft: svbizjournal - 🏆 334. / 59 Weiterlesen »