PayPal will lay off workers
Paypal, Due to the fear of economic recession, top technology companies including Meta, Microsoft, and Google have recently laid off workers. This time the online money transfer platform PayPal is added to this list. The company plans to lay off about 2,000 workers, which is about 7 percent of the total workforce. It should be noted that PayPal is very popular among freelancers because of the opportunity to collect freelancing income easily.
PayPal CEO Dan Schulman said the layoffs will begin in the next few weeks. Referring to the challenging economic situation, he said, “We have done various things to reduce expenses. There is much more to do. We have to make difficult decisions to deal with change, which will have an adverse effect on many of our colleagues.
PayPal started its journey in 1998. After that, the company quickly became popular in the field of online payments. PayPal currently supports online money transfers in more than 200 countries.
Note that at the beginning of the Corona epidemic, the share price of PayPal increased three times. However, the company has recently decided to lay off workers due to the fear of economic recession and the relative decrease in e-commerce dependence.