Shares of PayPal are down more than 50% over the past year.
about 2,000 employees, or roughly 7% of its staff, making it the latest tech firm to announce significant job cuts in recent months amid broader economic uncertainty.
In a memo to staff announcing the layoffs, PayPal CEO Dan Schulman referred to the "challenging macro-economic environment" and said the company "must continue to change as our world, our customers, and our competitive landscape evolve."
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