First India, now the US: PayPal expands layoff sweep to high-earners
A fresh round of layoffs has hit high-earning senior employees and engineers at PayPal days after the payments giant cut over 200 jobs in India as part of the firm’s previously announced multi-year turnaround plan. According to a notice filed with California’s Employment Development Department (EDD), the new wave of job losses will impact 251 employees at the US company’s San Jose headquarters.
Like the recent layoffs in India, these job cuts are also part of the broader 20% workforce reduction initiated as part of extensive cost-saving measures under CEO Enrique Lores, who officially became the tech giant’s new president and chief executive in March.
