Source: http://www.bizjournals.com/sanjose/news/2017/05/30/exclusive-paypal-layoffs-target-leadership.html
A number of senior employees and longtime company veterans are quietly being shed from PayPal Holdings as the San Jose-based company completes a "restructuring." The cuts focus on several senior positions, including vice presidents across a range of business units like privacy and payments. PayPal Holdings is quietly shedding a number of senior employees, including at least one C-suite position as well as several...
PayPal has cut at least 36 jobs — largely leadership roles at its San Jose headquarters — since December, according to recent California Worker Adjustment and Retraining Notification (WARN) filings by the company. Those cuts include vice presidents across a range of business units, including privacy and payments.
The company has about 3,000 employees in San Jose, according to city public records.
Like any industry leader pursuing tremendous opportunities and seeking to fulfill our potential, we will continually evaluate our structure, processes and resource allocation for improvement opportunities,” company spokesperson Justin Higgs told the Silicon Valley Business Journal on Tuesday. “Through this targeted effort, PayPal is continuing to work to align teams to support key business priorities.”
The company declined to comment further on the reason for the layoffs, or to say if the affected positions would be refilled.
The layoffs are a part of a "targeted restructuring, Hanna Baskerville, a senior HR consultant at PayPal, wrote in the WARN document. There are no departure dates listed and the company declined to comment on the timing of the layoffs. Baskerville, in the letter, said that the restructuring began in December 2016.
Among the executives apparently being shed in the shakeup are Marcia Morales-Jaffe, who listed her role as senior vice president and chief people officer at PayPal.
Kirsten Wolberg, PayPal's vice president of talent, also appears to be leaving, according to the WARN document and her Linkedin profile, which lists her employment ending in 2017. Wolberg's profile shows that she has been with the company for five years and held roles overseeing talent and global operations, reporting directly to the CTO.
The WARN document also lists the position of vice president of global payments policy as a position that's been cut. John Muller, who has been with the company for nearly 17 years, holds that position, according to his Linkedin page . He held various legal executive roles at both PayPal and eBay dating back to the year 2000. (Ebay and PayPal split in 2015).
Director of data science, a role that coincides with Fransisco Kurniadi, and the role of lead manager of merchant communications were also written on the cut list. PayPal's WARN notice also stated that the director of public relations in San Jose will be affected, as will two public relations managers from its San Francisco office.
Both the manager of engineering and the director of engineering were also listed on the document as well as product manager. The company still is looking to hire a director of engineering, according to the profile of PayPal employee Gurinder Grewal's Linkedin page.
The positions listed in the WARN notices aren't the only executives exiting the company. Last week, Steve Allocca, PayPal’s vice president of global credit, left the company to join LendingClub, the company said in a statement.
Earlier this month, the company's global head of social and digital media David Peck left PayPal after five years to become the Chief Marketing Officer at KIND Financial, a cannabis compliance tech company. At PayPal, Peck oversaw the company’s social strategy and led the development and execution of integrated digital marketing.
In April of last year, James Barrese, the chief technology officer of PayPal, resigned. Sri Shivananda replaced Barrese and still serves as CTO.