PayPal Holdings Inc. is a multinational financial technology company that specializes in online payment systems for businesses, online retailers, and commercial customers. The company was founded in 1998 as Confinity, with its headquarters in California, USA. By 2012, PayPal had processed over $145 billion USD in payments.
According to recent reports, PayPal released a statement confirming the reduction of their workforce by 9% to align its focus with the needs of their customers. The report by Business Insider further mentions that this layoff would possibly affect about 2,500 employees.
