PayPal Reportedly Planning Layoffs

SAN JOSE (CBS SF) – EBay’s PayPal unit is planning layoffs in the coming weeks as it tries to refocus and operate more like an agile startup than a large company, according to people familiar with the matter.

These people spoke on the condition of anonymity because they were not authorized to discuss the layoffs. Bloomberg reported on Friday that the cuts could affect as many as 400 jobs. San Jose-based PayPal has nearly 13,000 employees.

In a statement, PayPal said on Monday it has told employees about plans to “strengthen and simplify” how it creates and delivers products. It says it has not yet discussed how these plans might affect jobs.

 

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

 

Comments

One Comment

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS San Francisco

Get The New CBS SF Bay Area Local App
Got Our Weather App?

Listen Live