PayPal, a FinTech company, to lay off 2,000 employees


Share post:

PayPal, a different significant tech firm, declared its intention to lay off 2,000 employees, or 7% of its workforce. This places it among the major tech firms that are laying off employees. A slowdown in the economy has an impact on the FinTech business.

This action is in line with that of Wall Street titans and Big Tech firms, both of which are using layoffs as a cost-cutting measure. The layoffs follow similar actions by some major tech firms, including Google, Amazon, Meta, and Microsoft. President and CEO of PayPal Dan Schulman announced the change in a letter to the staff.

“These reductions will take place over the upcoming weeks, with some organizations being more negatively impacted than others”, according to the public statement made to PayPal employees by Dan Schulman. “PayPal will treat departing employees with the utmost consideration and respect, offer them generous packages, seek advice as needed, and assist them in their transitions.”

Read More: Tech Layoffs: Fintech company PayPal to fire 2,000 employees

TalkFintech Bureau
TalkFintech Bureau
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.


Please enter your comment!
Please enter your name here


Related articles

Why is Sustainable FinTech Critical Today

FinTech offers robust convenience and security for financial transactions. But now, many customers are more keen on the...

Inswitch Partners with n1co Technologies To Improve Financial Inclusion In El Salvador

Inswitch, a global company in embedded finance technology, has partnered with n1co Technologies, a fintech company from El...

Billtrust Expands Partnership With Visa To Support Business Payments Network

Billtrust, a company in helping businesses manage orders and payments, has expanded its partnership with Visa. Together, they...

Open Payment Technologies Ltd Launches New Digital Wallet App “Kuady”

Open Payment Technologies Ltd is announcing the launch of its digital wallet app "Kuady". Kuady is designed to...