PayPal Slashes Israeli Workforce by Quarter in Global Restructuring
Summarized from The Times of Israel by baba
US payment giant PayPal is laying off about 70 employees, nearly a quarter of its Israeli staff, as part of a global restructuring to streamline operations and invest in AI. This move is consistent with broader layoffs in Israel's tech sector.
The story in 5 lines · by baba
- PayPal is cutting about 70 jobs in Israel, nearly 25% of its local workforce.
- The layoffs are part of a global restructuring and AI investment plan.
- The company aims to save $1.5 billion annually through these changes.
- PayPal has a long history of acquisitions and R&D in Israel.
- The cuts mirror a wider trend of layoffs in the Israeli tech industry.
The Times of Israel publishes in English. The key points are summarized above. Read The Times of Israel’s full report from the link at the top of the page.
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