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PayPal to Cut Around2,500 Jobs as Rivals Snag MarketShare (www.bloomberg.com)

submitted 9 months ago by L4s@lemmy.world to c/technology@lemmy.world

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PayPal to Cut Around2,500 Jobs as Rivals Snag MarketShare::PayPal Holdings Inc. will reduce its workforce by about 9% as Chief Executive Officer Alex Chriss, who took over in September, grapples with rising competition, profit pressures and a raft of analyst downgrades.

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[–] reshuffle6655@lemmy.dbzer0.com 20 points 9 months ago (8 children)

Who are their rivals? Looking for an alternative and the site is walled.

[–] Landless2029@lemmy.world 12 points 9 months ago (3 children)

Websites now take Google pay.

Restaurants and startups are using toast and squarespace.

People are using cash app and venmo.

There are a lot more alternatives to PayPal than 10 years ago.

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