PayPal to lay off 7% of employees amid efforts to cut costs, MarketWatch says

PayPal plans to lay off about 7% of its staff as it continues with broader efforts to reduce costs, MarketWatch’s Emily Bary reports. Chief Executive Dan Schulman announced the layoffs, which will affect about 2,000 PayPal employees, in an email to the staff Tuesday afternoon. "While we have made substantial progress in right-sizing our cost structure, and focused our resources on our core strategic priorities, we have more work to do," Schulman said in the note. "We must continue to change as our world, our customers, and our competitive landscape evolve." Reference Link