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PayPal Prepares Job Cuts As New CEO Takes "Deliberate Steps" In Turnaround Strategy
PayPal Prepares Job Cuts As New CEO Takes "Deliberate Steps" In Turnaround Strategy
PayPal shares fell 10% in the early U.S. cash session after CEO Enrique Lores began a turnaround effort aimed at "taking deliberate steps to sharpen focus and accelerate growth."
Lores is pushing forward with a new turnaround plan that could generate at least $1.5 billion in savings for the struggling payment platform over the next two to three years. This will allow the company to reinvest in technology modernization. Lores said in an earnings release that PayPal...
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