The payments giant is reducing its global workforce by 9%, which equates to around 2,500 jobs.
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The cuts will come from current positions and the elimination of open roles over the course of the year.
Those impacted will be notified by the end of the week.
Chriss said PayPal will support employees' transitions with the utmost respect, support, and compassion.
At this rate, more people could lose their jobs this year than in the previous 12 months.
