I have heard from several sources that 4,000 employees are being let go on Monday. Take it with a grain of salt because this is all a game of telephone
posted on another thread by @br+1m10yw24n
Has anyone else heard the same?
22 replies (most recent on top)
100% Monday something is happening. Idk if the 4k figure is anywhere near correct, but if you ask anyone at Manager or Director level if there layoffs on Monday, the fidgeting and deflecting is alarming. I think leadership is surprised just how informed we are this round.
@ef no doubt the same internal people who have said about 10 other dates previously and none of them turned out to be right.
I believe nothing anymore.
Non stop bullsh-t rumors and gossip. Surely someone in PayPal can see this forum and surely advise should be given to put the rumors to bed.
Id--ts 🤬
More internal sources are confirming Monday is the day.
@a6 i think if it isn't Monday it will be late oct early Nov. Kind of what he did at HP. if your wondering he didn't turn them around either, he just was used to cut people under the guise of AI and turnaround. He appears to be a hatchet man
it has to be Monday as that is the last day of Aug. That is if its true.
+/- 24h
cro 0/15
cmo 5/0
@ba You can’t be serious. PayPal loves its CWs. They can underpay, no benefits…
@ba yes. Lots. Fte is approx 26k ppl. Everyone is like 37k total or some sh-t.
@b4 we still have contractors?
Does anyone know what happens to CWs with remaining months left on their contract? They have to pay to end the contract early, so do they just let it run out if there’s just like 4 months left?
This ceo doesn’t have the ba--s to make any real decisions. He just hides all day.
That’s odd. I’ve received that business update a few different times year over year. It’s the team getting together to talk about what happened to peers, not get the boot. I’ve been told by someone who did get the boot she got a bcc meeting invite.
I don’t work here but man this company is diabolical. They have been talking about layoffs for months so to just string people along is crazy. Why don’t they just wait until Xmas and fire everyone then?
@a8 if you’re getting laid off, you’ll get an email that says something like important team update or important business unit update, it’ll come in your inbox about an hour before the meeting. On East Coast, it’s always been 9:30 AM
@a8 In the past it was around 10 on the west coast. Don't know if they do it around then in local time for everyone or what, but we'd hear about apac and emea before north america
2-3 years timeframe is for the entire yearly cost savings of $1.5 Billion. This is composed of other savings beyond layoffs. The breakdown and timeframe were given in different public materials.
Hold up this number doesn’t make sense. CEO announced 20% across 2-3 YEARS. 4k would be all at once, so the math doesn’t add up here.
For those who have witnessed other rounds, what time does this typically happen US/East Coast time? Are emails typically deactivated following “the call”? Remote workers must receive a shipping label for laptops and whatnot.
Just want an idea of what to expect.
Noticed a lot of teammates have sent connection invites on LinkedIn so you know ppl are anxious lol no one is logging into that sh*tty site for fun
For sure heard 4k from multiple people now. Everyone is saying Monday
I have heard it’s Monday but I also heard it was this past Tuesday.
I think we can safely say that if it doesn’t happen Monday (or, I guess, Tuesday?) that this is delayed due to the status of pending buyout talks.
Another fun weekend in corporate America, where dehumanization is the name of the game. (Not to exclude those outside the USA. It su-ks for everyone but some nations have better worker protections and unemployment benefits/severance requirements).
Sick of this ish.
@OP Across APAC?
Yup, I’ve heard it’s Monday as well.