PayPal gets rid of 2,500 Jobs & UPS eliminates 12,000 Employees to drive Profitable Growth

By siliconindia  |  Thursday, 01 February 2024, 17:04 IST

PayPal gets rid of 2,500 Jobs & UPS eliminates 12,000 Employees to drive Profitable Growth
A prominent Player in Fin-Tech making money fast, easy and more enjoyable, PayPal is laying off over 2,500 jobs or 9 percent of its global workforce in 2024. In the meantime, according to a report by Bloomberg, the UPS (United Parcel Service) also announced the layoff of 12,000 jobs.
An  official statement, Alex Chriss, CEO, PayPal said, “Today, I am writing to share the difficult news that we will be reducing our global workforce by approximately 9 per cent through both direct reductions and the elimination of open roles over the course of the year," 
He also added, "We are doing this to right-size our business, allowing us to move with the speed needed to deliver for our customers and drive profitable growth. At the same time, we will continue to invest in areas of the business we believe will create and accelerate growth”. 
Similarly, Carol B. Tome, CEO, UPS said, “2023 was a unique and difficult year. Through it all we remained focused on controlling what we could control, stayed on strategy and strengthened our foundation for future growth”.

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