PayPal Reportedly Planning Layoffs
SAN JOSE (CBS SF) - EBay's PayPal unit is planning layoffs in the coming weeks as it tries to refocus and operate more like an agile startup than a large company, according to people familiar with the matter.
These people spoke on the condition of anonymity because they were not authorized to discuss the layoffs. Bloomberg reported on Friday that the cuts could affect as many as 400 jobs. San Jose-based PayPal has nearly 13,000 employees.
In a statement, PayPal said on Monday it has told employees about plans to "strengthen and simplify" how it creates and delivers products. It says it has not yet discussed how these plans might affect jobs.
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