PayPal plans to cut 20% of its staff. This reduction will take place over the next two to three years. The company aims to accelerate its adoption of artificial intelligence. These job eliminations are also part of a cost-cutting initiative. CEO Enrique Lores stated PayPal underinvested in its technology platform.
https://www.wsj.com/business/earnings/paypal-to-cut-costs-after-profit-falls-dc42baf9