PayPal to layoff hundreds in Bay Area: These employees will lose jobs

PayPal is reportedly eliminating hundreds of positions at its corporate headquarters in San Jose, California. The job terminations have been revealed in a Worker Adjustment and Retraining Notification (WARN) submitted to California’s Employment Development Department. The Digital payments pioneer is cutting 251 roles targeting high-earning management personnel and technical leads as part of an aggressive plan to reduce its global staff by 20%.

Citing the regulatory disclosure, a report by The New York Post said that the staff cuts are scheduled to take effect on October 30.