PayPal laying off 9% of its workforce
(CNN) – Some workers at PayPal will need to look somewhere else for a new paycheck.
The company on Tuesday announced it’s laying-off 9% of its staff.
In a letter sent to employees, PayPal’s CEO said the tech company needs to be more efficient, use automation and “consolidate our technology.”
The layoffs come on the heels of eBay saying it will be cutting 1,000 of its workers, also noting the macro-economic environment is to blame.
Around the tech industry, Google is warning of a new round of layoffs.
Amazon plans hundreds of job cuts, and Duolingo has laid off 10% of its contract workforce.
Nearly 100 tech companies have released more than 25,000 employees so far this year, according to the layoffs.fyi database.
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