people · May 15, 2026
PayPal Plans 20 Percent Workforce Cuts of 4760 Jobs Under New CEO Enrique Lores
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PayPal announced plans on May 13 2026 to cut 20 percent of its global workforce or 4760 positions over two to three years. New CEO Enrique Lores stated the reductions would generate at least 1.5 billion dollars in savings as part of a turnaround strategy. The cuts follow first-quarter profit declines and competition from Apple Pay and Coinbase which announced its own 14 percent reduction of 700 jobs hours later.
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