TechFlow news: Payment company PayPal Holdings will cut approximately 9% of its workforce, affecting around 2,500 employees, due to intense competition, profit pressures, and analysts downgrading its rating.
The CEO stated the layoffs are aimed at right-sizing the company to meet customer needs and drive profitable growth. The company will continue investing in growth areas.
As of the end of 2022, PayPal employed about 29,900 people, and its stock price has continued to decline.




