The online payments company becomes the latest tech employer to announce mass layoffs. Credit: Thinkstock PayPal has become the latest technology company to announce wide-spread layoffs, with the company set to cut 2,000 jobs, about 7% of its workforce. In a message shared with PayPal employees and since posted on the company’s online newsroom, President and CEO Dan Schulman said while PayPal had made “significant progress…to address the challenging macro-economic environment” over the past year, “we have more work to do.” The job cuts will occur over the coming weeks, with some parts of the business impacted more than others, Schulman added without sharing the specifics. “We will treat our departing colleagues with the utmost respect and empathy, provide them with generous packages, engage in consultation where required, and support them with their transitions,” he said. Although the company beat expectations in November when it reported its third quarter financial results, PayPal did downgrade its forecast for the fourth quarter of 2022, citing a challenging macro environment, slowing ecommerce trends, and an unpredictable holiday shopping season. PayPal is set to report its 2022 fourth quarter financial results on February 9. The news comes at the end of another challenging month for technology workers, with Google, Microsoft, Salesforce and Amazon all announcing in January that they would be laying off a combined total 48,000 workers across the globe. Related content news Dropbox adds end-to-end encryption for team folders Dropbox this week unveiled a range of features, including security updates and key management, and the ability to co-edit Microsoft 365 documents from within the file-sharing app. By Matthew Finnegan Apr 26, 2024 3 mins Cloud Storage Collaboration Software Productivity Software feature Android versions: A living history from 1.0 to 15 Explore Android's ongoing evolution with this visual timeline of versions, starting B.C. (Before Cupcake) and going all the way to 2024's Android 15 (beta) release. By JR Raphael Apr 26, 2024 23 mins Small and Medium Business Smartphones Android news analysis The unspoken obnoxiousness of Google's Gemini improvements Google's Gemini chatbot is seeing all sorts of upgrades on Android this week, but those advancements reveal a darker underlying reality. By JR Raphael Apr 26, 2024 12 mins Google Assistant Google Android news analysis Google can’t seem to quit cookies, delays killing them again Google cited regulatory challenges in its oft-delayed plans to phase out third-party cookies from its Chromium products. It now plans to eliminate cookies in 2025 By Lucas Mearian Apr 25, 2024 5 mins Chrome Browser Security Chrome OS Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe