PayPal (PYPL) plans 20% layoffs, targets $1.5B cost savings
Published on · Source: finance.yahoo.com
AI Summary
Summarized by AI from the source belowPayPal (PYPL) announced plans to reduce its workforce by approximately 20%, translating to around 4,760 jobs based on its 2025 employee count of 23,800. This move aims to achieve a minimum of $1.5 billion in gross savings over two to three years. For the latest quarter, PayPal reported a profit of $1.11 billion, down from $1.29 billion year-over-year, while revenue rose to $8.35 billion, exceeding analyst expectations. The company also processed about $464 billion in transactions, marking an 11% increase, despite the stock dropping more than 8% in trading.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
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