people · May 20, 2026
PayPal Plans to Cut 20% of Workforce Over Next Two to Three Years
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PayPal Holdings Inc. announced plans to reduce its workforce by approximately 20% over the next two to three years under new Chief Executive Officer Enrique Lores. The reduction targets around 4,760 positions from the 23,800 employees reported at the end of 2025 and forms part of a broader initiative to achieve at least $1.5 billion in gross run-rate savings. Enrique Lores, who assumed the CEO role on March 1, 2026, after serving as HP Inc. CEO, described the moves as a response to underinvestment in technology and a need to accelerate AI integration. PayPal employed 23,800 people at the close of 2025.
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