PayPal Announces Workforce Reduction of 20% as New CEO Implements Cost-Cutting Measures

In Q1 2026, PayPal announced plans to cut approximately 4,760 jobs (about 20% of its workforce) under new CEO Enrique Lores. The move aims to generate at least $1.5 billion in annual savings by streamlining operations and accelerating AI integration.

By Colleen Cabili Wed, May 6, 2026 at 6:49 PM GMT+3 2 min read · Yahoo Finance · May 6, 2026, 15:49 UTC

Tickers: $PYPL

Topics: CEO change cost-cutting layoffs PayPal

Read the full article at Yahoo Finance

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