PayPal Layoffs: PayPal to cut 20% workforce as new CEO pushes AI-led restructuring - Storyboard18

PayPal has announced plans to reduce its workforce by approximately 20% over the next two to three years. The job cuts are part of an AI-driven restructuring initiative led by the company's new CEO.

The restructuring aims to achieve $1.5 billion in annual savings. PayPal will leverage artificial intelligence technologies to automate tasks and improve operational efficiency across its business.

The move reflects a broader trend among technology companies to integrate AI and reduce human headcount. PayPal's new CEO has emphasized the need for the company to become more agile and cost-efficient in a competitive market.