Payments firm PayPal Holdings is planningto cutabout2,500 jobs, or 9 per centofits global workforce, thisyear, a letter from CEO Alex Chriss, seen by Reuters, showed on Tuesday. Inthe letter to staff, newly appointed CEO Chriss said the decision was made to "rightsize" the company through both direct cuts and the elimination of open roles throughoutthe year. The staff that will be affected are expected to be notified bythe end of the week. "We are doing this to right-size our business, allowing us to move with the speed needed to deliver for our customers and drive profitable growth," Chriss wrote in the letter.
REUTERS
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