← Latest news 
PayPal readies layoffs to save 1.5 billion as new CEO reshapes leadership
Startups
Published on 6 May 2026
Venmo is growing fast while checkout growth stalls
PayPal’s newly appointed CEO Enrique Lores is rolling out a turnaround that could involve layoffs and reduced spending as the company targets $1.5 billion in savings over the next 2–3 years. The reshuffle comes after streamlining plans and leadership changes meant to revive growth in a fintech market crowded by Stripe, Adyen, Apple Pay, and Klarna—where Venmo outperforms checkout.
- New CEO Enrique Lores launches a cost cutting turnaround
- PayPal targets $1.5 billion in savings over 2 to 3 years
- Leadership is being reorganized alongside potential layoffs
- Venmo growth contrasts with slower branded checkout performance
Read the full story at Startup Talky
This summarization was done by Beige for a story published on 
Startup Talky