people · May 21, 2026
PayPal Announces Plans to Cut 20% of Workforce Over Next Two to Three Years
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PayPal's new CEO announced on May 5, 2026 that the company will cut approximately 4,760 employees representing 20% of its workforce. The reductions are phased over the next two to three years. The CEO stated PayPal will return to a tech company focus and target $1.5 billion in expense reductions through AI coding and customer service automation. The cuts form part of a broader business reorganization announced in late April 2026.
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