I have a bad feeling 3-4000 minimum will be let go :(
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Enrique will tear PayPal apart just like he did with HP. PayPal hasn’t been worth a sh-t since splitting from eBay
I was laid off recently. It was a brutal couple of weeks but I'm ok now and finding my footing again. I don't miss that level of job uncertainty. The people officer (IC) really did a number on employee well being and dismantled PayPal's culture. Good luck everyone. Sorry you have to go through the same up/down/questions we all went through when Alex Chriss came on board. Nuts to go through it all over again.
@hs it feels inevitable given the amount of bloat. Maybe only 2-3k culled. Hopefully useless middle management.
no it'll take a while. all you alarmists. calm down.
@hb I hope so. Feels inevitable it's coming sooner than later. I guess time will tell...
Given that the new leadership team was just announced and they’re still filling several roles, it will take some time for them to really define the new org. I would guess that Enrique will spend time discussing the strategy in more detail, but I doubt there will be an actual RIF tomorrow.
A large layoff aligned with quarterly earnings would be a Material Event, requiring lots of folks to be in the know.
Firing the CEO can be kept under wraps.
4000 (14%) means way more folks were involved.
Think that was secret, but prior reorg was leaking?
@OP my guess is Tuesday May 12 or 19, after the all-hands
@e5 100%. I want clarity about layoffs, future plans, Etc. Certainly feels like this is now try to sell to the highest bidder versus any kind of real turnaround. My two cents
I wish they would just get on with it so people aren't constantly stressed and worrying about losing their jobs.
@a4 I think it might be announced, but it will take a while to implement. I actually like working at PayPal, but whatever happens happens.
It’s been terrible since I joined this Jan. Hope I’m on the list at this point.
If we go by the 15% Alex was going to let go then yeah as those numbers are child's play to Enrique. However, prior to earnings call I am not sure about that happening. Who knows though.