Digital Times Nigeria
  • Home
  • Telecoms
    • Broadband
  • Business
    • Banking
    • Finance
  • Editorial
    • Opinion
    • Big Story
  • TechExtra
    • Fintech
    • Innovation
  • Interview
  • Media
    • Social
    • Broadcasting
Facebook X (Twitter) Instagram
Trending
  • “How Do I Kelee Gi?”: The Song That Rose From The Rubble Of A Lagos Bomb Blast
  • Hydrogen, Lagos State Govt Power Wellness Drive For Business Owners In Ikeja
  • Tinubu Hails NASENI’s Contributions To National Economy
  • Experts @ABoICT 2025 Warn Of Digital Disaster Risks In Nigeria Without AI Governance
  • NCC Unveils e-Health Project In Akure To Boost Digital Healthcare
  • PalmPay Unveils ‘Passing The Baton’ CSR Initiative To Drive Financial Inclusion In Northern Nigeria
  • Anambra Shines In E-Governance, Ranks Among Top Three States
  • EMOSIM Launches eSIM In Lagos, Heralds New Era Of Global Connectivity And Digital Inclusion
Facebook X (Twitter) Instagram
Digital Times NigeriaDigital Times Nigeria
  • Home
  • Telecoms
    • Broadband
  • Business
    • Banking
    • Finance
  • Editorial
    • Opinion
    • Big Story
  • TechExtra
    • Fintech
    • Innovation
  • Interview
  • Media
    • Social
    • Broadcasting
Digital Times Nigeria
Home » PayPal To Lay Off 2,500 Employees
Business

PayPal To Lay Off 2,500 Employees

DigitalTimesNGBy DigitalTimesNG31 January 2024No Comments2 Mins Read20 Views
Facebook Twitter Pinterest Telegram LinkedIn Tumblr WhatsApp Email
PayPal
Share
Facebook Twitter LinkedIn Pinterest Telegram Email WhatsApp

PayPal is laying off nine per cent of its workforce, the company’s CEO Alex Chriss told staff in a letter on Tuesday that PayPal made public hours later.

The decision will impact about 2,500 employees, who will find out their fate between today and the end of the week, Bloomberg reported earlier.

PayPal’s layoffs come almost exactly a year after the company fired more than 2,000 workers to keep costs down.

Despite thousands of job cuts in 2023, layoffs at tech companies have continued into 2024. On the same day as PayPal’s latest layoffs, Jack Dorsey’s Block, the company that owns Cash App, Foundational, and Square, conducted its second round of layoffs in two months, cutting nearly a thousand people.

Earlier this month, Google laid off more than a thousand workers in its Assisstant and hardware divisions, with CEO Sundar Pichai warning employees to brace for more cuts through the year.

Discord, eBay, Riot Games, TikTok, Microsoft, iRobot, Amazon, Unity, and Duolingo, among others, have collectively cut thousands of jobs in January.

PayPal was one of the earliest companies in online payments industry, but in recent years, rivals like Zelle and tech companies with deep pockets like Apple, have entered the space.

The competition in the payments industry is putting pressure on PayPal. Bloomberg noted that four analysts have downgraded the company’s stock this month. The company will “continue to invest in areas of the business we believe will create and accelerate growth,” Chriss said in the letter.

PayPal’s layoffs are happening despite the company’s strong growth throughout 2023. The company’s revenue as of September 2023 was $7.42 billion, an increase of more than eight per cent compared to its revenue a year before.

READ ALSO  Google Spent $2.1B To Lay Off More Than 12,000 Employees In 2023
#Alex Chris #Lay Off #PayPal
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleGoogle Spent $2.1B To Lay Off More Than 12,000 Employees In 2023
Next Article 8 Essential Technologies For Business Success In 2024
DigitalTimesNG
  • X (Twitter)

Related Posts

“How Do I Kelee Gi?”: The Song That Rose From The Rubble Of A Lagos Bomb Blast

31 May 2025

Experts @ABoICT 2025 Warn Of Digital Disaster Risks In Nigeria Without AI Governance

30 May 2025

TD Africa Turns Up The Heat On Tech Accessibility, Unveils ‘Black Friday Every Friday’ Campaign

27 May 2025

SBTS Group CEO, Evelyn Lewis Named Among Nigeria’s 50 Most Valuable Digital Economy Leaders

26 May 2025

Seun Dania Clinches Two Major Honours As Alpha-Geek Earns Top Industry Award

26 May 2025

ABoICT Awards 2025 Holds Saturday, May 24, Celebrates ICT’s Role In Nigeria’s Economic Growth

22 May 2025

Comments are closed.

Categories
About
About

Digital Times Nigeria (www.digitaltimesng.com) is an online technology publication of Digital Times Media Services.

Facebook X (Twitter) Instagram
Latest Posts

“How Do I Kelee Gi?”: The Song That Rose From The Rubble Of A Lagos Bomb Blast

31 May 2025

Hydrogen, Lagos State Govt Power Wellness Drive For Business Owners In Ikeja

30 May 2025

Tinubu Hails NASENI’s Contributions To National Economy

30 May 2025
Popular Posts

Building Explainable AI (XAI) Dashboards For Non-Technical Stakeholders

2 May 2022

Building Ethical AI Starts With People: How Gabriel Ayodele Is Engineering Trust Through Mentorship

8 January 2024

Gabriel Tosin Ayodele: Leading AI-Powered Innovation In Web3

8 November 2022
© 2025 Digital Times NG. Designed by Max Excellence LLC.
  • Advert Rate
  • Terms of Use
  • Advertisement
  • Private Policy
  • Contact Us

Type above and press Enter to search. Press Esc to cancel.