Posted on 01/31/2023 12:25:01 PM PST by RoosterRedux
PayPal on Tuesday announced plans to lay off 2,000 employees, or around 7% of its workforce, according to a release posted to the company’s website.
President and CEO Dan Schulman wrote in the release that PayPal is working to address the “challenging macroeconomic environment.” He said the company has made progress focusing resources on core priorities and rightsizing its cost structure, but that there is more work to be done.
“Change can be difficult – particularly when it includes valued colleagues and friends departing,” Schulman wrote about the layoffs. “We will face this head-on together, drawing on the unparalleled scale of our global platform, the strategic investments we have made to strengthen our core capabilities, and the trust and loyalty of our customers.”
PayPal stock notched up on the news and is now up more than 2% for the day.
The company’s layoffs announcement marks the latest round of job cuts in the tech industry, as Workday also announced plans to cut 525 jobs Tuesday. Earlier this month, Google announced plans to lay off more than 12,000 workers, Microsoft announced plans to cut 10,000 employees and Salesforce announced plans to lay off 7,000 workers.
In its third-quarter earnings report, PayPal beat on earnings and revenue expectations, but shares slid after the company’s Q4 revenue estimate came in behind analysts’ expectations. But PayPal raised EPS guidance for the full fiscal year, saying it’s benefited from “ongoing productivity initiatives.”
During a call with analysts after the company’s Q3 earnings report, acting CFO Gabrielle Rabinovich talked about the company’s projections for 2023.
(Excerpt) Read more at cnbc.com ...
Oh, noes. Wokesters watch out. Here comes another sh!tstorm.
I guess the crying rooms at Paypal will be packed with sensitive virtue-signaling, cross-dressing freaks.
If your workplace features beanbag chairs, foosball tables in the break room, a cafeteria with a chef, bring-your-pet-to-work days, a generous work from home policy, and you have beer and wine brought into the lobby on Friday afternoons, be worried. Be very, very worried.
Paypal Wokies will be smuggling cheap vodka and grain alcohol into their beer and wine Friday afternoon parties.
Pay Pal alligned themselves with the Orwellian far-left.
Maybe Google will soon suffer the same fate.
I dropped them when they dropped legal gun dealers and legal gun accessories and blocking accounts.
Google just laid off 12,000 wokers.
Rush pointed out a long time ago that he heard Silicon Valley and other tech employees around the nation were becoming a reliable always-Dem all the time voting bloc. I noticed that at work.
So it’s good for them to suffer. They gloated about undermining my country.
Woke broke cry a river to someone who cares I won’t use them ever again
Not enough. I want them to suffer for undermining America.
No freedom of thought, speech or expression when they use their power and algorithms against free citizens.
I looked up torture against American troops captured in Vietnam (to recall the name of one I had heard interviewed once). Google turned all questions around for all results to show harm done to others by Americans. Pages of them.
Unforgivable.
Musk is reportedly starting his own payment processing company. That should make things even more interesting for PayPal.
” Google just laid off 12,000 workers “.
Looks as though “ Google Fiber “ will not be the Orwellian instrument that they envisioned.
Folks are finally awakening.
Maybe PlayPal could afford to keep some of those employees if they hadn’t donated hundreds of millions to BLM (Burn, Loot, Murder) and similar organizations back in 2020.
Yup more wokesters out of work probably spend all their time scheming more far out there delusions to foist on the rest of us
Time to trim the Woke fat.
Google is at top of my wish list of companies who should go broke.
damn shame — canceled biz & pers accounts after Paypal’s recent Woke threat
7%? We didn’t hurt them badly enough with our cancellations and non-use.
PP deserves to die.
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