PayPal targets at least $1.5 billion in gross run-rate savings over 2-3 years
PYPL•PayPal targets at least $1.5 billion in gross run-rate savings over the next two to three years, including about $700 million by year-end. It has reduced headcount by more than 2,000 and managerial roles by more than 25%.
1. Savings targets
PayPal is targeting at least $1.5 billion in gross run-rate savings over the next two to three years, with about $700 million in run-rate savings by year-end.
2. Workforce and operations
The company said it has reduced headcount by more than 2,000 and managerial roles by more than 25%. It is optimizing outside services, consolidating vendors and prioritizing countries for investment.
