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PayPal Layoffs

Industry Finance · Location SF Bay Area · United States · Subscribe (RSS)

5
Layoff rounds
9,428
Employees laid off
Post-IPO
Funding stage
$216M
Total raised
PYPL $41.29 ▼ 3.42%
close June 5, 2026

PayPal has 5 publicly reported layoff rounds on record between May 23, 2022 and May 5, 2026. A total of about 9,428 employees were affected across these rounds.

Layoff history

May 5, 2026
PayPal cut 4,760 employees (20% of staff)
4,760 laid off 20% of workforce Location SF Bay Area PYPL -7.74% that day, -0.47% next day

Weaker-than-expected first-quarter profit set the stage for PayPal's announcement on May 5, 2026 that it would cut about 4,760 jobs, roughly 20% of its 23,800-person workforce. New CEO Enrique Lores, who took over in March 2026 after leading HP Inc., described the reductions as part of a two-to-three-year reorganization rather than a one-time action, targeting at least $1.5 billion in annualized run-rate savings. He pitched the move as a technology and culture reset rather than ordinary cost-cutting, saying PayPal is 'becoming a technology company again' and is 'aggressively adopting AI in our development processes.' The announcement confirmed earlier Bloomberg and Wall Street Journal reporting and accompanied the company's Q1 earnings.

Reason: cost cuts after falling profit and reorganization

Source: wsj.com

June 18, 2024
PayPal cut 85 employees
85 laid off Location SF Bay Area PYPL -1.68% that day, +1.15% next day

PayPal disclosed a workforce reduction affecting its SF Bay Area operations in June 18, 2024. Approximately 85 roles were eliminated.

Source: irishexaminer.com

January 30, 2024
PayPal cut 2,500 employees (9% of staff)
2,500 laid off 9% of workforce Location SF Bay Area PYPL -0.13% that day, -3.66% next day

PayPal disclosed a workforce reduction affecting its SF Bay Area operations in January 30, 2024. Approximately 2,500 roles were eliminated.

Source: bloomberg.com

January 31, 2023
PayPal cut 2,000 employees (7% of staff)
2,000 laid off 7% of workforce Location SF Bay Area PYPL +2.32% that day, +1.74% next day

PayPal disclosed a workforce reduction affecting its SF Bay Area operations in January 31, 2023. Approximately 2,000 roles were eliminated.

Source: cnbc.com

May 23, 2022
PayPal cut 83 employees
83 laid off Location SF Bay Area PYPL +0.79% that day, -3.12% next day

PayPal disclosed a workforce reduction affecting its SF Bay Area operations in May 23, 2022. Approximately 83 roles were eliminated.

Source: bizjournals.com

Data for PayPal is compiled from public WARN Act filings and reporting linked above. See our methodology.