4 ms·

PayPal to lay off 9% of global workforce

33 points by seatac76 3y ago

ijhuygft776 3y ago
9% appears to be a common number about latest layoffs
- idiotsecant 3y ago
  Decimation is a tried and true method to keep the rank and file troops working and afraid, always has been.
  - BandButcher 3y ago
    I see it more for public perception, 10% seems miniscule imo to the average person who would see this headline (non tech), and a constant compounding can continue to go unoticed. Plus if every company does it you can begin to forget which company had/has/is/continuing to lay off... Geniusly evil
- ydnaclementine 3y ago
  rounded down from 9.99% to make it seem smaller than "double digit percentage layoffs"
  - apapapa 3y ago
    Was thinking the same for a sec ... No sure if they care that much though
  - Onewildgamer 3y ago
    Total number of employees in PayPal are 29000 from wikipedia, with 2500 being 9% of them squarely. I don't know where you got 9.99%
ejb999 3y ago
and the hits just keep on coming...
two_in_one 3y ago
Not clear, are they scaling down or optimizing? > Last week, PayPal announced a push into artificial intelligence features. > Chriss called it the beginning of PayPal's "next chapter." Looks like they are replacing some positions with AI.
dschofie 3y ago
I'm curious how this plays out in terms of their subsidiaries. Anyone have any insight? As far as I can tell braintree + venmo seem to be doing well
- whofpp 3y ago
  Both are impacted, not sure what percentage they among other subsidiaries make up of the overall number though. It’s not over yet either, notifications are still going out through the end of the week.
saos 3y ago
> While I have been encouraged by the innovation our team is delivering, we must execute faster and ensure we are focused on solving our customers’ most critical needs and problems. The "Our Customers" rhetoric is actually boring now. Just say "large shareholders".
- stairlane 3y ago
  Shareholders are the primary paying customer, coupled with legal obligations and a wherewithal to act on any sort of litigation. So it’s no wonder why they’re prioritized. I’m not a fan of it, but it’s the lay of the land.
  - saos 3y ago
    Not all shareholders are customers.
masterfooo 3y ago
Interesting that big layoff like these are not getting enough coverage in the media, and even here on HN it does not generate enough responses. It sounds like everyone is happy and well. Bear in mind you will most likely get decimated as well. These are huge numbers, and no federal or local politicians are asking what is happening.

33 points by seatac76 3y ago

ijhuygft776 3y ago

9% appears to be a common number about latest layoffs

idiotsecant 3y ago
Decimation is a tried and true method to keep the rank and file troops working and afraid, always has been.
- BandButcher 3y ago
  I see it more for public perception, 10% seems miniscule imo to the average person who would see this headline (non tech), and a constant compounding can continue to go unoticed. Plus if every company does it you can begin to forget which company had/has/is/continuing to lay off... Geniusly evil
ydnaclementine 3y ago
rounded down from 9.99% to make it seem smaller than "double digit percentage layoffs"
- apapapa 3y ago
  Was thinking the same for a sec ... No sure if they care that much though
- Onewildgamer 3y ago
  Total number of employees in PayPal are 29000 from wikipedia, with 2500 being 9% of them squarely. I don't know where you got 9.99%

ejb999 3y ago

and the hits just keep on coming...

two_in_one 3y ago

Not clear, are they scaling down or optimizing? > Last week, PayPal announced a push into artificial intelligence features. > Chriss called it the beginning of PayPal's "next chapter." Looks like they are replacing some positions with AI.

dschofie 3y ago

I'm curious how this plays out in terms of their subsidiaries. Anyone have any insight? As far as I can tell braintree + venmo seem to be doing well

whofpp 3y ago
Both are impacted, not sure what percentage they among other subsidiaries make up of the overall number though. It’s not over yet either, notifications are still going out through the end of the week.

saos 3y ago

> While I have been encouraged by the innovation our team is delivering, we must execute faster and ensure we are focused on solving our customers’ most critical needs and problems. The "Our Customers" rhetoric is actually boring now. Just say "large shareholders".

stairlane 3y ago
Shareholders are the primary paying customer, coupled with legal obligations and a wherewithal to act on any sort of litigation. So it’s no wonder why they’re prioritized. I’m not a fan of it, but it’s the lay of the land.
- saos 3y ago
  Not all shareholders are customers.

masterfooo 3y ago

Interesting that big layoff like these are not getting enough coverage in the media, and even here on HN it does not generate enough responses. It sounds like everyone is happy and well. Bear in mind you will most likely get decimated as well. These are huge numbers, and no federal or local politicians are asking what is happening.