PayPal launches workforce reduction plan to reduce costs.
TheInformation reports this, citing some sources, according to whom the reductions follow the words of PayPal CEO Alex Chriss who, last November, defined the company's costs as "too high" and capable of "slowing it down".
The cuts will affect 9% of the workforce and will allow the company to "move at the speed necessary" to satisfy customers and push growth, CEO Alex Chriss said in a letter to employees seen by Bloomberg.
"At the same time - added Chriss - we will continue to invest in business areas that we believe can create and accelerate growth".
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