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PayPal unveiled plans Tuesday to cut 2,000 employees, becoming the latest U.S. company to reduce its headcount, just hours after software company HubSpot announced it would lay off 500 positions in an effort to reduce costs as the company struggles from a “perfect storm” of inflation, tight customer budgets and “volatile foreign exchange.”
In a statement on Tuesday, online payment company PayPal announced it would cut 7% of its global workforce (2,000 full-time positions) amid a “competitive landscape” and a “challenging macro-economic environment,” CEO Dan Schulman said.
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