I feel bad for some of my now-former colleagues who were hit in this round. All of them are great people and hard workers. Some of them have been with PayPal for over a decade. None of them are looking forward to the job hunting part, since it's been a while since they last interviewed. None of this was necessary. None. But they want cheaper employees in cheaper countries and they don't care who they lay off in the process. I wonder how long it'll take them to realize that cheaper employees are cheaper for a reason.
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This is why people are only fooling themselves when they stick with a company for more than 4-5 years these days. The company can and will ditch you in a heartbeat once it comes time to cut payroll.
It occurred in MRC layoff last year. They sent it to India and incurred huge losses. At this point they are dismantling the company and will sell off to highest bidder. It's a loss.