Friday31 March 2023

Paypal is firing hundreds of workers

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It looks like none of the big companies can avoid the trend of releasing their workers. Now it's PayPal's turn and they intend to cut around 3% of the workforce, making it up to 400 jobs. This is an idea coming from PayPal's president David Marcus in the hope that it will help reorganize the payment company and cut additional costs. The cuts will have the biggest impact on the product and technology groups and will be taking place in the next few weeks. PayPal currently has around 13,000 employees.

This is just one move in a series that Marcus has done since he started the recovery project back in April, He started it with consolidating nine product groups into one and moving workers from small walled cubicles to open rooms where the staff was sitting along with the management. The company stated “We have told PayPal employees about plans under way to strengthen and simplify how we create and deliver consistently great products and brand experiences to our customers. We have not yet discussed how these plans may impact any existing jobs across our product, technology and marketing teams.”

PayPal needs to be careful and smart, because there are many other startups that are trying to accomplish what they have done and take over their position. One of them is Stripe which provides similar tools and services to what PayPal offers. They will certainly have to work harder in order keep their customers to themselves since there are many complaints on the time consuming setup of the service and also bad customer support. Ebay CEO Jon Donahoe said that he brought Marcus on board to bring the startup power, and maybe that is exactly what they need to become better.

[Ed – We should also not forget that the PayPal Ebay combo is not one that is well loved. It is seen by many as less than ethical considering the way Ebay and PayPal charge you a significant number of fees. We wonder if Anonymous will have anything to say about this considering their long standing grudge against PayPal…]

Tell us your thoughts on PayPal and their termination of employees

Last modified on Monday, 15 October 2012 19:19

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