PayPal is cutting about 9% of its workforce, the company said Tuesday. The layoffs join the long list of tech companies that have trimmed staff, from Amazon to eBay, in just the first month of the new year. Last week, eBay said it is laying off 1,000 employees, or about 9% of its staff, also citing the macroeconomic environment. As of Tuesday afternoon, 98 tech companies have laid off more than 25,000 employees so far in 2024, according to Layoffs.fyi. Last year saw 262,595 layoffs in more than 1,100 companies, according to the database.

Source: CNN January 31, 2024 05:59 UTC