Tech layoffs: PayPal to cut 2,000 jobs

Thousands of tech employees have lost their jobs recently. Companies like Google, Amazon, Microsoft and others announced job cuts last month. Now another company has joined the list. Payments firm PayPal has announced that it is planning to cut up to 7% of its workforce which accounts for close to 2,000 employees.

“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,” said PayPal’s Chief Executive Dan Schulman.

The following message was shared with PayPal employees today by president and CEO Dan Schulman.