I hope it’s really, really over today and no more roles are cut. Has anyone heard otherwise, though?
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@a8 I didn't hear "layoffs in October" directly but mgt confirmed that some depts are still being evaluated, which translates to it.
@fx The 20% Reduction: The planned reduction equates to approximately 4,760 positions phased over two to three years.
The Total Base Figure: This 20% calculation is based on PayPal’s official full-time global headcount of 23,800 direct employees.
That's the figure they released to the press. They aren't including CW in these figures
They announced a 20% reduction.
20% of 35,000 is 7,000, right?
Have 7,000 people been laid off? No.
So it isn't over yet.
@a7 this is going to happen every 6 months until they get rid of the 20% they want rid of
I don’t think we are out of the woods yet. CTO freeze ticket was extended until 9pm 9/1. It was 9pm 8/31.
Even it is true, it will last for a week probably
@a7 where did you hear this? Or just a feeling?
It’s not done. They’ll be another round late next month or early October. 🐮🤢
It's not done until there is an email saying how "hard" this week has been, but how "encouraged" we are for the future. I was told specifically that my manager was not allowed to say it was done yet, though I do think 8/31 was the big day.
Give how big of a pu--y Enrique has been it’s probably done. The guy is working on the slowest turnaround in tech history.
@a2 Source? Region?
@a1 I was laid off in April. It was one of most stressful periods of my life trying to find a job. Thankfully I found a great job. I hate PayPal today as much as I did then.
More layoffs coming
Literally could be tomorrow. I have endured layoffs for 20 years. I’m still surprised I am not numb to them. This round rattle me. The April layoff season I completely forgot about.