PayPal Begins Company Wide Layoffs

9% of global workforce, ~2500 employees.<p><a href="https:&#x2F;&#x2F;www.bloomberg.com&#x2F;news&#x2F;articles&#x2F;2024-01-30&#x2F;paypal-to-cut-around-2-500-jobs-as-rivals-snag-market-share" rel="nofollow">https:&#x2F;&#x2F;www.bloomberg.com&#x2F;news&#x2F;articles&#x2F;2024-01-30&#x2F;paypal-to...</a> | <a href="https:&#x2F;&#x2F;archive.today&#x2F;XSojt" rel="nofollow">https:&#x2F;&#x2F;archive.today&#x2F;XSojt</a>

What&#x27;s causing all these layoffs? Like, it&#x27;s all I read in my feeds these days! Economic downturn or something more novel, like AI replacing jobs?