Paypal just announced that they will be laying off 2,000 people or 7% of the total head count. There is about 300K layoffs that have accumulated in tech (including fintech) - things are bleak and it'll take 2 years for this clear - it's just too big of a impact. Sad.
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@5ivv+1kXyueVj Take your soon and gloom back to Facebook. The economy is white hot. Rising wages and a continuing tight labor market will mean interest rates continue to rise. The end of free money is hardest on companies who leverages themselves to the hilt, hence the layoffs.
Think about that for a minute. Wall Street contracts when workers expand. It used to be expansion for all. The post-GE worker exploitation playbook is imploding. Hopefully there are still smart people running companies who remember what companies were like before Jack Welch and studied Peter Drucker instead.
Well, this is what happens when you vote Democrat. Biden went into the White House, and the country has been getting worse and worse. Just wait, it's going to get even worse through 2024, and that's not even taking the serious recession that is slated to occur this year. If you don't believe it, just wait and see.
paypal is not “fintech”. they’ve existed as a pioneer in the middle-man payment “escrow-wannabe” category and have failed to grow with the times. Their services are slow, unreliable, and their customer service has a “i don’t care” policy. They’ve locked up ppls accounts for little or no reason and fail to provide adequate assistance to get back up. This is because they don’t operate as a fintech and could care about your holdings and transactions because they aren’t a bank or holding company. Since they have no grown or evolved their demise is a good sign that the industry has no place for this attitude.
but according to current Admin, things are great
Tech glory days are slowing down
Musk 🤣 hopefully that’s as successful for him as Tesla and Twitter…
Musk is working on something that will ki-l PayPal.
We cancelled all our accounts with PP months ago, along with many more.
Wait, PP does wfh?? I know they do sabbaticals too. SIGN ME UP!!
We'll have layoffs to...but unlike PP employees we can't work from home. Their survivors will be much better of than ours.
Whoever said working in the Fintech industry or for a fintech was "safe"? Did you not notice the cryptocurrency meltdown in the past few months?
A result from the platform targeting conservative accounts.
Go Woke
Go Broke
okay? bye...