PayPal will Lay off 2,000 Employees, or 7% of Its Workforce

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PayPal announced Tuesday it will lay off 2,000 employees, or about 7% of its total global workforce in the coming weeks, which becomes the latest round of layoffs in the tech industry. President and CEO Dan Schulman made the announcement on the company’s website, saying that addressing “the challenging macro-economic environment” requires the company to make this hard decision. “Change can be difficult – particularly when it includes valued colleagues and friends departing. We will face this head-on together” Schulman added.