PayPal cuts 220 India jobs as part of previously announced restructuring plan
PayPal has set a target of achieving US$400 million in cost savings by year-end
PayPal has reduced its workforce by around 220 employees in India as part of a larger, multi-year restructuring plan, according to a source familiar with the matter. The company aims to achieve US$400 million in cost savings by the end of the year and a total of US$1.5 billion over the next two to three years. The initiative, under the leadership of new CEO Enrique Lores, includes measures such as reducing organizational layers, enhancing productivity, and integrating AI and automation across the business. This move aligns with the broader trend of US companies cutting jobs this year.
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