PayPal has announced the layoff of 251 employees at its San Jose headquarters, affecting senior software engineers and product directors. This is part of a global reduction of 20% of its workforce, roughly 4,760 people, as the company restructures into three major divisions. The newly formed Payments Services and Crypto department will be responsible for the PYUSD stablecoin, reflecting the company's commitment to digital assets as a standalone business line rather than a peripheral project. The reorganization is expected to generate $1.5 billion in annual cost savings through AI integration and operational simplification.
PayPal is cutting 251 jobs at its San Jose headquarters, with senior software engineers and product directors in the line of fire, as part of a wider global workforce reduction of 20% — roughly 4,760 people. The company is reorganizing into three divisions, one of them a new Payments Services and Crypto unit that will manage its PYUSD stablecoin. The shift is expected to save $1.5 billion a year by using AI integration and trimming operations, according to a report from CryptoBriefing. And it points to something bigger: PayPal now appears to treat digital assets as a core business line, not some experimental side project.
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