• Latest
  • Trending
Tech Jobs: 2,000 To Go At Online Payment Firm, PayPal

Tech Jobs: 2,000 To Go At Online Payment Firm, PayPal

February 3, 2023
NCC Publishes List of Type-Approved Telecom Gadgets, Equipment

NCC Publishes List of Type-Approved Telecom Gadgets, Equipment

March 31, 2023
HP Introduces Partner Growth Programmes To Drive Collaborative Benefits

HP Introduces Partner Growth Programmes To Drive Collaborative Benefits

March 31, 2023
Liquid C2 Sites Third Cyber Security Fusion Centre In Zambia

Liquid C2 Sites Third Cyber Security Fusion Centre In Zambia

March 31, 2023
Tech Experts Demand Pause In ‘Out Of Control’ AI Development

Tech Experts Demand Pause In ‘Out Of Control’ AI Development

March 31, 2023
News Horizons Announces N150m Scholarship To 1000 OAU Students

News Horizons Announces N150m Scholarship To 1000 OAU Students

March 30, 2023
e-RIGHTS: NITDA Supports Avocats Sans Frontiers France On Rights Protection Online

e-RIGHTS: NITDA Supports Avocats Sans Frontiers France On Rights Protection Online

March 30, 2023
Report Indicates AI Could Replace Up To 300m Jobs

Report Indicates AI Could Replace Up To 300m Jobs

March 30, 2023

Marketplace Africa Explores Uganda’s Plan To Bring Biotech To Farms And Fields

March 30, 2023

Why Employee Collaboration Is Key For Cybersecurity 

March 30, 2023
MTN’s Funso Aina Named ‘Innovator of the Year’ in Europe, Middle East and Africa

MTN’s Funso Aina Named ‘Innovator of the Year’ in Europe, Middle East and Africa

March 29, 2023
Zenith Bank Caps Year 2022 With Double-Digit Growth Despite Harsh Economic Environment

Zenith Bank Caps Year 2022 With Double-Digit Growth Despite Harsh Economic Environment

March 29, 2023
China Turns To Academic Institutions To Address Chip Shortage

China Turns To Academic Institutions To Address Chip Shortage

March 29, 2023
EBusiness Life
Saturday, April 1, 2023
Newsletter
Contact Us
  • Home
  • NewsBytes
    • Agrictech
    • Cybersecurity
    • e-Politics
    • Entertainment
    • Fintech
    • Foreign News
    • Local News
    • Social Media
    • StartUps
    • State News
  • Big Issues
  • Columns
    • Contributions
    • eScope
    • Inside Issues
  • Cyberparenting
  • Tech Talk
    • Innovations
    • World of Sc & Tech
  • Gadget Review
    • Phones
    • Laptops
    • Accessories
  • Interviews
  • Events
  • PhotoNews
  • Archives
  • Digital Edition
No Result
View All Result
E-Business Life
No Result
View All Result

Tech Jobs: 2,000 To Go At Online Payment Firm, PayPal

by Admin
February 3, 2023
in NewsBytes
Reading Time: 2 mins read
A A
0

PayPal is shedding around 2,000 jobs, or 7% of its workers, as it becomes the latest big tech firm to cut costs.

The online payments company says it was forced to make the decision as it faces “the challenging macro-economic environment.”

YOU MAY ALSO LIKE

NCC Publishes List of Type-Approved Telecom Gadgets, Equipment

HP Introduces Partner Growth Programmes To Drive Collaborative Benefits

PayPal’s announcement follows tens of thousands of layoffs by technology giants in the last month alone.

This year, Google’s parent company Alphabet, Amazon and Microsoft have announced major job cuts.

“We must continue to change as our world, our customers, and our competitive landscape evolve,” PayPal’s chief executive Dan Schulman said in a statement.

Also on Tuesday, Snap – the parent company of social media platform Snapchat – warned that revenue for the three months to the end of March could fall by as much as 10%.

“We anticipate that the operating environment will remain challenging, as we expect the headwinds we have faced over the past year to persist throughout Q1,” the company told investors.

After the announcement Snap’s shares fell by almost 15% in extended trade in New York.

What is behind the big tech companies’ job cuts?

At the start of this year, Amazon announced it planned to cut more than 18,000 jobs because of “the uncertain economy” and rapid hiring during the pandemic.

Also Alphabet said it would shed 12,000 jobs, while Microsoft said up to 10,000 employees would lose their jobs.

Last week, Swedish music-streaming giant Spotify said it would cut 6% of its about 10,000 employees, citing a need to improve efficiency.

In another sign of the technology industry slowdown US computer chip maker Advanced Micro Devices on Tuesday reported a 98% fall in net income for the last three months of 2022.

The company also said it expects revenue to drop by as much 10% in the current quarter.

However, the figures were better than many investors had expected and AMD’s shares rose after the announcement.

In Asia on Wednesday, the world’s second-biggest memory chip maker SK Hynix posted its largest quarterly loss on record.

The South Korean company reported a worse-than-expected 1.7tn won ($1.4bn; £1.1bn) loss for the last three months of 2022, as sales fell by 38%.

The firm pointed to falling computer chip prices and joined rival technology giants as it warned that it expects an industry-wide downturn to worsen in the coming months, before recovering later in the year.

It came after rival Samsung Electronics on Tuesday reported its lowest quarterly profit in eight years.

Share this:

  • Tweet
  • WhatsApp
  • Telegram
ShareTweetSendShareShareBookmark

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result

Recent News

NCC Publishes List of Type-Approved Telecom Gadgets, Equipment

NCC Publishes List of Type-Approved Telecom Gadgets, Equipment

March 31, 2023
HP Introduces Partner Growth Programmes To Drive Collaborative Benefits

HP Introduces Partner Growth Programmes To Drive Collaborative Benefits

March 31, 2023
Liquid C2 Sites Third Cyber Security Fusion Centre In Zambia

Liquid C2 Sites Third Cyber Security Fusion Centre In Zambia

March 31, 2023

Ebusiness Life

Ebusiness Life is news Tech company. We give you latest updates on Tech News and other tech related news.

Join our mailing list and get latest updates.

Check your inbox or spam folder to confirm your subscription.

Popular Posts

NCC Publishes List of Type-Approved Telecom Gadgets, Equipment

NCC Publishes List of Type-Approved Telecom Gadgets, Equipment

by Admin
March 31, 2023
0

HP Introduces Partner Growth Programmes To Drive Collaborative Benefits

HP Introduces Partner Growth Programmes To Drive Collaborative Benefits

by Admin
March 31, 2023
0

Liquid C2 Sites Third Cyber Security Fusion Centre In Zambia

Liquid C2 Sites Third Cyber Security Fusion Centre In Zambia

by Admin
March 31, 2023
0

Categories

  • Big Issues
  • Columns
    • eScope
  • Cyberparenting
  • eBusiness
  • Gadget Review
    • Laptops
    • Phones
  • Interviews
  • NewsBytes
    • Agrictech
    • Cybersecurity
    • e-Politics
    • Entertainment
    • Fintech
    • Foreign News
    • Local News
    • Social Media
    • StartUps
  • Opinion
  • Tech Talk
    • World of Sc & Tech
  • Uncategorized

Quick Links

  • Contact Us
  • Newsletter
  • Privacy & Policy
  • Contact Us
  • Newsletter
  • Privacy & Policy

© 2022 Ebusiness Life - Desinged by Kreative TechPoint.

No Result
View All Result
  • Home
  • NewsBytes
    • Agrictech
    • Cybersecurity
    • e-Politics
    • Entertainment
    • Fintech
    • Foreign News
    • Local News
    • Social Media
    • StartUps
    • State News
  • Big Issues
  • Columns
    • Contributions
    • eScope
    • Inside Issues
  • Cyberparenting
  • Tech Talk
    • Innovations
    • World of Sc & Tech
  • Gadget Review
    • Phones
    • Laptops
    • Accessories
  • Interviews
  • Events
  • PhotoNews
  • Archives
  • Digital Edition

© 2022 Ebusiness Life - Desinged by Kreative TechPoint.