The president and CEO of payment giant PayPal, Dan Schulman, said in a message to staff that the company will be laying off 2,000 workers from its global workforce over the next few weeks.
Nearly 7% of the company’s overall workforce is represented by this. According to Schulman, those impacted would receive “substantial packages,” access to consultations, and transitional help.
In addition to Amazon, Meta, and Alphabet, an increasing number of major global digital companies, including PayPal, have announced layoffs.
The industry leader in payments sought to increase its presence throughout Asia. PayPal declared in 2021 that it will employ 1,000 engineers in India alone.
However, due to the company’s failure to register as Penyelenggara Sistem Elektroniks (PSEs), Indonesia briefly disabled PayPal in August 2022. After the business registered as an operator of electronic systems in the archipelago, the prohibition was lifted.