PayPal—PayPal laid off approximately 2,000 employees, 7% of its workforce
In January 2023, PayPal CEO Dan Schulman announced the company would lay off approximately 2,000 employees, representing about 7% of its total workforce. The layoffs were part of broader cost-cutting measures across the tech industry. This was followed by another round of approximately 2,500 layoffs (9% of workforce) in January 2024, representing consecutive years of major workforce reductions.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| Worker Rights | -against | primary | -1.00 |
| Overall incident score = | -0.590 | ||
Score = avg(topic contributions) × significance (medium ×1) × confidence (0.59)
Evidence (1 signal)
PayPal announced 2,000 employee layoffs representing 7% of workforce
On January 31, 2023, PayPal CEO Dan Schulman announced the company would lay off approximately 2,000 employees, about 7% of its total workforce, as part of cost-cutting measures. This was the first of two consecutive years of mass layoffs at the company.