PayPal to reorganise, cut 325 jobs

The company hopes a reorganization will help it introduce new products faster

Internet payments company PayPal will cut 325 jobs as part of a companywide reorganisation, its president said.

The layoffs will hit PayPal's product and technology organization hardest. That's where nine product groups will be collapsed into a single group, eliminating internal barriers between teams formed around products.

"Instead of being organized around projects, our teams will now be dedicated to products and focused on our customers -- consumers, developers, small businesses and large retailers," David Marcus, PayPal president, wrote in a memo that was posted online.

The changes will also hit around 120 contract workers who are based around the world.

"While PayPal is strong and performing well, making decisions that impact our employees was hard," wrote Marcus. "So this is a difficult day at PayPal."

He said he expects the changes will enable PayPal to introduce new products faster than before.

PayPal is owned by eBay and is one of three payment companies held by the online marketplace operator. The other two, which collectively make up eBay's payments division, are Bill Me Later and Zong.

In its most recent quarter, the period from July to September, eBay said its payments division recorded net revenue of US$1.26 billion. That was a jump of 23 percent from the same period in 2011.

Martyn Williams covers mobile telecoms, Silicon Valley and general technology breaking news for The IDG News Service. Follow Martyn on Twitter at @martyn_williams. Martyn's e-mail address is martyn_williams@idg.com

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags business issueslayoffspaypalrestructuring

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Martyn Williams

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Matthew Stivala

HP OfficeJet 250 Mobile Printer

The HP OfficeJet 250 Mobile Printer is a great device that fits perfectly into my fast paced and mobile lifestyle. My first impression of the printer itself was how incredibly compact and sleek the device was.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?