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"Over the past year, we made significant progress in strengthening and reshaping our company to address the challenging macro-economic environment," PayPal president and chief executive officer Dan Schuman said in a press release on Tuesday.
"While we have made substantial progress in right-sizing our cost structure, and focused our resources on our core strategic priorities, we have more work to do," he added, announcing the cuts.
The news comes as several big tech companies, including Facebook parent company Meta, Amazon, Twitter and Alphabet, have announced significant job cuts over the past months. - Bernama
