About 20% of workforce, over 4,500 jobs, to be cut over 2-3 years
Source-backed update · Reported plan · PayPal
EventReported May 5, 2026
ReportedMay 5, 2026
Added to WorkHushMay 5, 2026
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Sources
Bloomberg (via MarketScreener) · May 5, 2026Supports: Bloomberg reported, citing a person familiar with the matter, that PayPal plans to cut about 20% of its workforce over two to three years, which could mean more than 4,500 jobs based on about 23,800 employees; the at least $1.5 billion savings goal came from a company statement.Open the sourceLos Angeles Times (via Honolulu Star-Advertiser) · Sep 5, 2026Supports: Cited Bloomberg's report that PayPal plans to cut 20% of its workforce, more than 4,500 jobs, over two to three years to save about $1.5 billion.Open the sourcePayments Dive · Sep 1, 2026Supports: Reported that PayPal described its later job cuts as part of a cost reduction plan first announced in May.Open the source
Not in the sources
The headcount figure comes from an unnamed person cited by Bloomberg; PayPal has not confirmed it in these sources, and the timing and locations of the cuts are not set out.
More job cuts in May 2026 ›