PayPal Company to Terminate Over 2,000 Employees Soon
- 01, February , 2023
NewsToday: Major companies have announced to lay off their employees, and Paypal is also standing in the row. Paypal is now planning to cut off its 2 thousand full-time employees due to the worst economic conditions. Additional details are not provided by the company yet. The company is resided in San Jose, city of California, and is the parent company of Honey, Xoom, and Venmo. In January, Google Microsft and Salesforce plan to reveal significant layoffs. During the summer of 2022, activist investor Elliott Management acquired a stake worth approximately $2 billion in Paypal.
In the summer of 2022, activist investor Elliott Management purchased a stake in PayPal for about $2 billion. Additionally, PayPal declared that it had reached a "information-sharing agreement" with Elliott in order to continue working together on a number of value-creating opportunities.
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