PayPal Begins Company Wide Layoffs (opens in new tab)

(seekingalpha.com)

7 pointsdanielsokil2y ago3 comments

3 comments

9% of global workforce, ~2500 employees.

https://www.bloomberg.com/news/articles/2024-01-30/paypal-to... | https://archive.today/XSojt

What's causing all these layoffs? Like, it's all I read in my feeds these days! Economic downturn or something more novel, like AI replacing jobs?

toomuchtodo2y ago

Desperation for trailing returns that have evaporated post "COVID bump" and ZIRP. Labor market is firing on all cylinders [1], it is the capital markets that are sad [2].

[1] https://www.axios.com/2024/01/30/us-job-openings-report-stea...

[2] https://www.bloomberg.com/news/articles/2023-10-14/end-of-co... | https://archive.today/0V56d

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3 comments

toomuchtodo2y ago

9% of global workforce, ~2500 employees.

https://www.bloomberg.com/news/articles/2024-01-30/paypal-to... | https://archive.today/XSojt

favourable2y ago

What's causing all these layoffs? Like, it's all I read in my feeds these days! Economic downturn or something more novel, like AI replacing jobs?

toomuchtodo2y ago

Desperation for trailing returns that have evaporated post "COVID bump" and ZIRP. Labor market is firing on all cylinders [1], it is the capital markets that are sad [2].

[1] https://www.axios.com/2024/01/30/us-job-openings-report-stea...

[2] https://www.bloomberg.com/news/articles/2023-10-14/end-of-co... | https://archive.today/0V56d

j / k navigate · click thread line to collapse