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Paypal is planning to cut about 2,500 jobs, or 9% of its global workforce, this year, according to its CEO, Alex Chriss.
In a letter to staff sent on Tuesday, the newly appointed CEO said the decision was made to “right-size” the company through both direct cuts and the elimination of open roles throughout the year. The staff that will be affected are expected to be notified by the end of the week.
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