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PayPal Begins Company Wide Layoffs
- toomuchtodo 3y ago9% of global workforce, ~2500 employees. https://www.bloomberg.com/news/articles/2024-01-30/paypal-to-cut-around-2-500-jobs-as-rivals-snag-market-share https://www.bloomberg.com/news/articles/2024-01-30/paypal-to... | https://archive.today/XSojt https://archive.today/XSojt
- favourable 3y agoWhat's causing all these layoffs? Like, it's all I read in my feeds these days! Economic downturn or something more novel, like AI replacing jobs?
- toomuchtodo 3y agoDesperation for trailing returns that have evaporated post "COVID bump" and ZIRP. Labor market is firing on all cylinders [1], it is the capital markets that are sad [2]. [1] https://www.axios.com/2024/01/30/us-job-openings-report-steady-december https://www.axios.com/2024/01/30/us-job-openings-report-stea... [2] https://www.bloomberg.com/news/articles/2023-10-14/end-of-corporate-america-s-profit-recession-comes-with-concerns https://www.bloomberg.com/news/articles/2023-10-14/end-of-co... | https://archive.today/0V56d https://archive.today/0V56d