The worldwide economic recession due to factors such as the Russia-Ukraine war continues to affect living conditions. Many tech companies, from Netflix to Microsoft, from Snapchat to Meta, froze hiring and laid off their employees as their growth rates slowed.
Another bad news came from the PayPal wing. worldwide employs about 30 thousand people The online payment company, which operates in San Jose, California, recently parted ways with 80 employees at its headquarters in San Jose, California.
PayPal continues to lay off
According to Bloomberg’s report, PayPal laid off staff, this time at its offices in Chicago, Nebraska and Arizona. While the company did not disclose how many people it parted ways with and how much compensation it paid in total, it did not comment on whether the layoffs would continue.
A PayPal spokesperson said in a statement on the matter:
“As PayPal; As we continue to grow and evolve, we are constantly evaluating our operating model to ensure we are ready to meet our customers’ needs and operate with the best structures and processes to support our strategic business priorities.
PayPal remains fully committed to the Bay Area and California. We will continue to invest in our business and the people working in the state.”
Flash decision from Netflix, which can not stop the loss of subscribers!
Netflix has added a new feature to the features it has implemented in order to retain its subscribers. New content will be available to watch months in advance.
This decision is thought to be directly related to PayPal’s financial data announced in the 1st quarter of 2022. Spending on the platform compared to the same period last year increased by 15 percent to 323 billion dollars. This is data the company has seen in the last five years. slowest growth rate recorded as.
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