PayPal to lay off 9% of global workforce | Hacker News Reader

PayPal to lay off 9% of global workforce

cnbc.com

33 pointsseatac7614 comments

Interesting that big layoff like these are not getting enough coverage in the media, and even here on HN it does not generate enough responses. It sounds like everyone is happy and well. Bear in mind you will most likely get decimated as well. These are huge numbers, and no federal or local politicians are asking what is happening.

> While I have been encouraged by the innovation our team is delivering, we must execute faster and ensure we are focused on solving our customers’ most critical needs and problems.

The "Our Customers" rhetoric is actually boring now. Just say "large shareholders".

Shareholders are the primary paying customer, coupled with legal obligations and a wherewithal to act on any sort of litigation. So it’s no wonder why they’re prioritized.

I’m not a fan of it, but it’s the lay of the land.

Not all shareholders are customers.

Not clear, are they scaling down or optimizing?

> Last week, PayPal announced a push into artificial intelligence features.

> Chriss called it the beginning of PayPal's "next chapter."

Looks like they are replacing some positions with AI.

9% appears to be a common number about latest layoffs

Decimation is a tried and true method to keep the rank and file troops working and afraid, always has been.

I see it more for public perception, 10% seems miniscule imo to the average person who would see this headline (non tech), and a constant compounding can continue to go unoticed.

Plus if every company does it you can begin to forget which company had/has/is/continuing to lay off... Geniusly evil

rounded down from 9.99% to make it seem smaller than "double digit percentage layoffs"

Was thinking the same for a sec ... No sure if they care that much though

Total number of employees in PayPal are 29000 from wikipedia, with 2500 being 9% of them squarely. I don't know where you got 9.99%

I'm curious how this plays out in terms of their subsidiaries. Anyone have any insight?

As far as I can tell braintree + venmo seem to be doing well

Both are impacted, not sure what percentage they among other subsidiaries make up of the overall number though. It’s not over yet either, notifications are still going out through the end of the week.

and the hits just keep on coming...

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