now there are rumors, do you think that's warranted? will there be layoffs in jan 2025?
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My team at PayPal has been affected and 6 engineers from my team were laid off last month.
It’s been a week, earnings went well… are layoffs still happening?
No email yet EU
Unfortunately layoffs are here. Announcement came at 8:30pm central as part of reorg email.
It’s now the 27th of Jan, no word or rumours of layoffs yet for Ireland or other locations, wondering will we hear something in the coming weeks.
Haha, you're a funny one! Let's catch up in 30 days.
We're done with layoffs. Everyone can rest easy without concerns. Also, the TPV for this quarter has significantly grown from last quarter so our next earnings report should be good.
I saw this message on blind.
I hope redundancies come end of January, can’t work much longer in that environment toxic cu-ts and ugly into the bargain
Which department?
French leader went today…
Do you mind if I ask, Where did you hear this 10 to 20%
Is that global staff or Irish staff.
So many rumors but not alot been said presently officially.
I heard that '10-20% of staff will be paid off'
Any expectations of layoffs in the Irish depts or do people think there will be no layoffs in the coming year.
Are we safe or should we looking for other jobs.
The stock price is looking awesome over the last year! That's one very bright spot
Coming on Thursday....
Yep gpri is no more! Reorg confirmed, but no layoffs yet
I'm in Dublin too and haven't heard anything either.
Based in Ireland here. I never heard anything about a reorg in Dublin. Doesn't mean it isn't true but I haven't heard.
I have been told teams in Dublin Ireland got news earlier today of a reorgs?
I saw that someone from McKinsey searched my profile on LinkedIn. Should I be worried? (Not look at profile) Would they do search on LinkedIn for employee data?
McKinsey were contracted ….. so far I know
Reduce overall investment in profit sharing and 401(k) programs
Cuts to company paid life insurance coverage
Employees to be moved to consumer driven health plans
Recommendations of high paid tenures years to be cut
No sabbatical for new employees
If you work for xoom they are investing
Big investments in crypto tech
Two new offices in the USA one planned in Europe and one new building in Australia.
A lot of restructuring coming
Out with the old is the key takeaway
Think 2023 & 2024 there was more noise than 2025 about budgets, reducing contingent workforce, reducing OPEX costs, reduce travel, etc.. Either this is not cascading down to middle management or pressure different from years past in reducing Operational Costs to hit EPS targets. Big focus is on profitability such as Revenue Margins as shared in earnings calls. As for comments about AIP, heard of no changes except new pay for performance construct which gives HR more influence how to reward.
I would expect a minimal aip bonus this year. They are really cutting back. They aren't replacing staff who are leaving which leaves certain departments understaffed.
So many little changes to encourage more people to quit. They are hoping for people to just leave the company rather than pay out packages.
No spot award? Are we to expect no AIP bonus?
Yes 100%
Positions moving to less expensive areas. It is what Chris demands.
The whole department I am in is short staffed and no one is recruiting for more positions to fill them. New leadership will not spend money.
No idea but as far as I'm concerned it's always around the corner with this company. There were cuts around that time of year the last couple of years so seems fairly reasonable it could happen around then again.
I’m pretty sure it will happen and have a feeling I will be affected. There are tells. Some people are bad liars. It su-ks because I’ve worked really hard and I think I did good work.
Yes, I'm sure there will be layoffs. Teams were told to reduce budgets, which usually means headcount for 2025. Our team can't hire backfill positions, and can't expand, plus I heard all teams were told to cut budgets in 2025 from a reliable source.