PayPal to cut 325 full-time jobs# ebiz - 电子商务
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NEW YORK — PayPal is cutting 325 full-time jobs to streamline its business
and speed up product development amid intense competition from plucky
startups and established companies such as Google.
The company also is ending jobs with about 120 independent contractors
worldwide.
The job cuts have been expected and were reported by The Associated Press
earlier this month. Its parent company, San Jose, Calif.-based eBay Inc.,
said it expects to book a restructuring charge of about $15 million in the
current quarter, related to the job cuts.
Monday’s cuts represent about 2.5 percent of PayPal’s work force of 13,000
. The company said the cuts are primarily in PayPal’s product and
technology organizations. PayPal said it wants to simplify and speed up how
products are developed. The moves come as PayPal faces increasing
competition in the world of online and offline payments services such as
Square Inc. and Google Inc.
“If we don’t change, we simply won’t be able to sustain PayPal’s global
leadership position over time. And we will not let that happen,” PayPal’s
president, David Marcus, wrote in a memo sent out to employees and obtained
by the AP. “To do this we need a simpler, streamlined place to work.”
and speed up product development amid intense competition from plucky
startups and established companies such as Google.
The company also is ending jobs with about 120 independent contractors
worldwide.
The job cuts have been expected and were reported by The Associated Press
earlier this month. Its parent company, San Jose, Calif.-based eBay Inc.,
said it expects to book a restructuring charge of about $15 million in the
current quarter, related to the job cuts.
Monday’s cuts represent about 2.5 percent of PayPal’s work force of 13,000
. The company said the cuts are primarily in PayPal’s product and
technology organizations. PayPal said it wants to simplify and speed up how
products are developed. The moves come as PayPal faces increasing
competition in the world of online and offline payments services such as
Square Inc. and Google Inc.
“If we don’t change, we simply won’t be able to sustain PayPal’s global
leadership position over time. And we will not let that happen,” PayPal’s
president, David Marcus, wrote in a memo sent out to employees and obtained
by the AP. “To do this we need a simpler, streamlined place to work.”