PayPal layoffs: New CEO cuts 20% of workforce in Q1 2026
Key takeaways
- With Pay Pal having reported 23,800 employees at the close of 2025, that figure translates to roughly 4,760 roles eliminated.
- Management said the initiative is designed to deliver a minimum of $1.5 billion in gross run-rate savings across that same window.
- Profit for the quarter came in at $1.11 billion, equivalent to $1.21 per share, down from $1.29 billion, or $1.29 per share, in the same period a year ago.
Pay Pal layoffs: New CEO cuts 20% of workforce in Q1 2026 Quartz · Justin Sullivan / Getty Images Colleen Cabili Wed, May 6, 2026 at 10:49 PM GMT+7 2 min read PYPL Pay Pal plans to eliminate about 20% of its workforce over the next two to three years, according to Bloomberg and The Wall Street Journal. With Pay Pal having reported 23,800 employees at the close of 2025, that figure translates to roughly 4,760 roles eliminated.
Management said the initiative is designed to deliver a minimum of $1.5 billion in gross run-rate savings across that same window. Lores, who took the helm in March, outlined a two-part approach: stripping out redundant structures and speeding up the integration of AI across the business. PayPal did not specify which business areas would be affected.
Profit for the quarter came in at $1.11 billion, equivalent to $1.21 per share, down from $1.29 billion, or $1.29 per share, in the same period a year ago. Revenue rose to $8.35 billion from $7.79 billion. After excluding one-time items, the company earned $1.34 per share on an adjusted basis, topping analyst expectations of $1.27 per share, with revenue also beating the $8.05 billion consensus, according to The Wall Street Journal.