PayPal will cut 9% of its global workforce, or about 2,500 jobs, CEO Alex Chriss wrote Tuesday in an internal letter to employees, which was viewed by CNBC.
The cuts will affect both existing roles and job listings that PayPal had planned to hire for, and will take place over the course of the year, Chriss wrote.
If your role is included in this workforce reduction, you will be notified between today and the end of the week.
PayPal has significant potential to create substantial value for our employees, our customers, and shareholders.
I am confident that our PayPal community will come through this period even stronger, and I am optimistic about the future we will create together.
Persons:
Alex Chriss, Chriss, Alex Don't
Organizations:
PayPal, CNBC, Intuit, CNBC PRO