Dan Schulman, the CEO of PayPal, told the company’s employees in an email on Tuesday that the decision was unavoidable because of the “challenging macroeconomic environment.”
“Addressing these changes requires us to make hard decisions that will impact some of our colleagues. “We will treat our departing colleagues with the utmost respect and empathy, provide them generous packages, engage in consultation where required and support them with their transitions. I want to express my appreciation for the meaningful contributions they have made to PayPal.
In November 2022, Twitter Inc. fired half its employees because advertisers stopped spending money on Twitter because they worried about how it moderated content.
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