PayPal Laying Off 9 Percent of Global Workforce as Tech Layoffs Continue

Layoffs at the online payments system company come as more than 28,000 other jobs have been cut by tech firms already this year.

A sign is posted in front of PayPal headquarters in San Jose, Calif., on Feb. 2, 2022. Justin Sullivan/Getty Images

Online payment firm PayPal is slashing its global workforce by approximately 9 percent this year—amounting to roughly 2,500 job losses—as it becomes the latest tech company to announce layoffs.

Alex Chriss, president and CEO of the firm, announced the cuts in a message first shared internally with employees on Jan. 30.