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PayPal to cut 2,000 jobs in latest tech layoffs

The cuts, which will affect about 7% of employees, will take place in the coming weeks, Chief Executive Officer Dan Schulman told employees in a memo.

PayPal’s stock has been battered by the slowdown in growth in payments volume on its platform after the pandemic began to recede. (File)
Published on Feb 01, 2023 08:41 AM IST
Bloomberg | | Posted by Ritu Maria Johny

‘Not pursuing acquisition of Pinterest at this time’: PayPal amid rumours

PayPal's shares rose 6.7 per cent to $256.50 in premarket trading on Monday, while Pinterest was down 10.8 per cent to $51.80.

PayPal has more than doubled its market capitalisation thanks to the explosion of online commerce during the pandemic, and now exceeds $300 billion. 2021. (REUTERS/Dado Ruvic/Illustration)(REUTERS)
Published on Oct 25, 2021 04:51 PM IST
AFP | | Posted by Sharangee Dutta, Hindustan Times, New Delhi

PayPal says to shut domestic payments business in India

San Jose, California-based PayPal will instead focus on its cross-border payments business, which means global customers will still be able to pay Indian merchants using the service.

The PayPal logo is seen at an office building in Berlin, Germany. (REUTERS)
Published on Feb 05, 2021 09:54 AM IST
Reuters | , New Delhi

PayPal becomes first foreign company to offer digital payments in China

In taking full control of one of the smaller players in the world's largest payment market, PayPal will compete with domestic payments giants Alipay, owned by Alibaba-affiliated Ant Group, and WeChat Pay, owned by Tencent Holdings Ltd, as China fully opens up its financial sector.

The PayPal app logo is seen on a mobile phone.(Reuters)
Published on Jan 14, 2021 11:29 AM IST
Reuters |
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