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PayPal is cutting about 20% of its workforce, and spent $1.5 billion buying back its own stock last quarter
By the newsroom · · 1 min read · ▶ 1:00
The essentials
- PayPal returned $1.5 billion to stockholders by repurchasing approximately 28 million shares of common stock in the third quarter.[1]
- PayPal expects to cut about 20% of its global workforce over the next two to three years, or roughly 4,760 jobs out of 23,800.[2]
- Non-GAAP EPS increased 8% to $1.45, while GAAP EPS decreased 4% to $1.25.[1]
- PayPal is laying off 251 employees at its San José headquarters, according to a government filing.[3]
What happened
PayPal returned $1.5 billion to stockholders by repurchasing approximately 28 million shares of common stock in the third quarter.[1] On a trailing 12-month basis, it returned $6.0 billion by repurchasing approximately 117 million shares.[1] Net revenues increased 2% to $8.6 billion.[1] GAAP EPS decreased 4% to $1.25, and non-GAAP EPS increased 8% to $1.45.[1] PayPal is raising its full-year non-GAAP guidance for transaction margin dollars and EPS.[1]
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What the video doesn't say
Under the restructuring plan, PayPal expects to cut about 20% of its global workforce over the next two to three years, or roughly 4,760 jobs out of 23,800.[2] The company aims to save about $1.5 billion annually through the changes.[2] In Ireland, PayPal plans to lay off 164 employees, or about 12% of its workforce in the country.[2] Enrique Lores took over as CEO in March 2026 after serving as CEO of HP.[2] "We are making good progress in our multi-year transformation, and while there is more work to do, we are increasingly confident in our path to durable, profitable growth and remain focused on execution."[1]
Sources
- 1Documentsec.gov
- 2PayPal lays off dozens in Israel as it cuts 20% of global workforce | CTechctech · September 2, 2026
- 3PayPal adds another round of layoffs as part of multiyear restructuring plan | Honolulu Star-AdvertiserHonolulu Star-Advertiser · September 5, 2026
Photos: Sagar Savla (CC BY-SA 3.0), Yaeli778 (CC BY-SA 4.0), ajay_suresh (CC BY 2.0), World Economic Forum (CC BY 3.0), Created by Scriptur; cropped by Pixlr (CC BY-SA 2.5), Vicente Lara (CC BY 4.0). Cropped.
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