PayPal to lay off 7% of its workforce, about 2,000 employees

Operating a bank, lending, and money transfer operations in so many countries requires an incredible amount of behind the scenes work.

Plus all the KYC, support, fraud, and infrastructure to support all those roles.

You wouldn't know it based on how terrible their support is, but that 28k number doesn't shock me.

You would be shocked how big seemingly small tech companies get as they grow/age. For example, you might start your site off by spending a week building a billing integration with Stripe. Ten years later, you have 10 engineers, 3 PMs, and a designer, and 20 operations people on a billing team, plus managers and directors for everyone.

It's not just apple. Nvidia, AMD, and several other companies haven't announced layoffs.

My opinion is that all the above have strong CEOs who aren't reactive.

Here is an article [1] and corresponding HN discussion [2] that adds some insight to that question.

[1] https://blog.pragmaticengineer.com/apple-job-cuts-tide/

[2] https://news.ycombinator.com/item?id=34542013

Think different, I guess.