In a memo to staff announcing the layoffs, PayPal CEO Dan Schulman referred to the “challenging macro-economic environment” and said the company “must continue to change as our world, our customers, and our competitive landscape evolve.” Much of the tech industry is cutting costs in response to a shift in pandemic-fueled demand for digital services and economic headwinds, including rising interest rates and fears of a looming recession.
In January alone, Microsoft, Google-parent Alphabet and Salesforce each announced plans to cut thousands of workers. Shares of PayPal are down more than 50% over the past year. In his memo, Schulman said reductions will occur over the coming weeks and departing workers will be provided with “generous” severance packages. “I want to express my personal appreciation for the meaningful contributions they have made to PayPal,” Schulman said of the employees being let go.
With all of the threats and sanctions, the US is failing in the face of multipolarity...the rise of more powerful countries. America's use of sanctions instead of honest competition and trade put the country “in danger of looking like we sanction everybody who disagrees with us.”
Amazon and Microsoft have done the same thing too.
No rage from the woke?
Good
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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.
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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.
Källa: svbizjournal - 🏆 334. / 59 Läs mer »
ASML says 'rules are being finalized' on chip export controls to China | CNN BusinessSML, a Dutch maker of semiconductor equipment, says “rules are being finalized” on export controls -- amid reports that the Netherlands and Japan have joined the United States in restricting sales of some computer chip machinery to China. The art of the deal why so late? Any sanctions/fines for this delay MinPres ? Is this news reporting real or fake ? I’m so sick of you guys making things so dramatic all of time . Give me so much stress ! Time to investigate them
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Norway discovers huge trove of metals, minerals and rare earths on its seabed | CNN BusinessA Norwegian study has found a 'substantial' amount of metals and minerals ranging from copper to rare earths on the seabed of its extended continental shelf, authorities said on Friday in their first official estimates. Does this mean mining willl occur now? Ugh Russia just now remembering Norwegians are ethnic Russians longing for liberation. LaMonicaBuzz Useless news as it's still underground.
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