You are currently viewing Paypal Plans $900 in Cost Cuts

Paypal Plans $900 in Cost Cuts

Paypal has proposed cutting costs by $900 million, primarily through project delays, real estate consolidation, and layoffs. Additionally, Company unveiled a new $15 billion stock buyback program.

PayPal’s about-face on costs and the new stock repurchase plan was applauded by investors, and shares rose by 9%.

However, other experts are concerned that Company cost reductions are so significant that long-term revenue growth may be in jeopardy, posing a significant challenge for the business.

The Company’s cost-cutting measures follow another hard quarter for the company.

According to recent reports, Company has changed its strategy to placate activist investor Elliott Management, which has revealed a $2 billion position in the payments industry giant.

Read More News: Click Here