Bloomberg: PayPal Holdings Inc. said it will cut 2,000 staffers as it contends with a macroeconomic slowdown that’s weighed on the firm’s business in recent quarters. The cuts, which will affect about 7% of staff, will happen in the coming weeks, Chief Executive Officer Dan Schulman told employees in a memo. Schulman has been vocal about his plans to improve his firm’s operating leverage — or the ability to grow revenue faster than expenses — and PayPal last year embarked on a cost-cutting initiative that it said would result in $1.3 billion in savings this year (Bloomberg).
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