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PayPal will lay off 2,000 workers, company says

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Shares of PayPal are down more than 50% over the past year.

about 2,000 employees, or roughly 7% of its staff, making it the latest tech firm to announce significant job cuts in recent months amid broader economic uncertainty.

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."

 

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PayPal CEO Dan Schulman, (who received $23,362,072 in total compensation) 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.'

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PayPal will lay off 2,000 workers, company saysPayPal said it plans to lay off about 2,000 employees, or roughly 7% of its staff, making it the latest tech firm to announce significant job cuts.
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