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Paypal fires 2500 and UPS fires 12000 employees

Livemint · 1y

Payments firm PayPal is considering cutting around 2,500 jobs, or 9% of its global workforce, by 2024. CEO Alex Chriss cited the need to "right-size" the business to deliver for customers and drive profitable growth. In a separate move, logistics company UPS plans to lay off 12,000 employees to offset soft demand and higher labour costs. Both companies are taking measures to streamline operations and improve financial performance.