Tech content trusted by users in North America and around the world
6,406 Reviews & Articles | 42,684 News Posts
TRENDING NOW: Samsung rumored to acquire AMD, to battle against Intel and Qualcomm

PayPal planning to cut 325 jobs even with a strong quarter showing

PayPal axing 325 jobs as a major restructuring marches forward

| Business, Financial & Legal News | Posted: Oct 29, 2012 9:22 pm

The economy is still looking pretty bleak. Even with companies posting strong quarters, those same companies are axing jobs in order to remain nimble and profitable. That's something that shouldn't be happening, yet it is and its a sign of our economy's state. PayPal is the latest to join the businesses who fit this description.




PayPal has announced that around 325 jobs will be cut as David Marcus, PayPal's president who took over seven months ago, continues a major shakeup of the organization of PayPal. The majority of these cuts will be coming out of PayPal's product and technology units as PayPal merges nine product-development teams into one.


325 employees makes up roughly 3 percent of PayPal's workforce. eBay will be taking a fourth-quarter pretax charge of nearly $15 million. "The intent is to simplify and speed up how products are developed. PayPal expects to continue its strong global growth momentum and leadership through online merchant expansion and share of checkout, by driving payments innovation at point-of-sale retail for large, medium, and small businesses, and by engaging consumers online and offline with payments products and experiences that offer choice, flexibility, simplicity, and security," eBay said in a statement.


Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases
Or Scroll Up Or Down