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PayPal to cut 20 percent of jobs under new CEO Lores to save 1.5 billion
Business
Published on 6 May 2026
The 20 percent cut aims to fund growth
PayPal plans to reduce its workforce by about 20 percent over the next two to three years, as new CEO Enrique Lores pushes a restructuring meant to simplify operations and accelerate growth. The company expects to save at least $1.5 billion through the cost-cutting drive, even as analysts flag tougher expansion challenges ahead.
- PayPal expects to cut roughly 20 percent of jobs over 2 to 3 years
- CEO Enrique Lores is driving the restructure to simplify operations
- Cost savings target is at least $1.5 billion
- Analysts warn growth pressures may be intensifying
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times