PayPal Lays Off 2,000 Employees

PayPal is laying off about 2,000 employees of its workers, to cut costs amid "the challenging macro-economic environment," the company said.

The latest layoff makes up 7 percent of online payments company's workers.

"We must continue to change as our world, our customers, and our competitive landscape evolve," PayPal's chief executive, Dan Schulman, said in a statement.

PayPal is the latest big tech firm to shed workers, following similar layoffs by firms such as Alphabet, Amazon, and Microsoft.

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