Aruna Susarla’s Post

It's with mixed emotions I am announcing that, after 14+ years, I will shortly be leaving PayPal as part of the recent round of layoffs. It's been an incredible journey, and I am so grateful to everything PayPal has given me. It's quite remarkable to think back on how much I have grown both personally and professionally over that time! I say mixed emotions because, whilst I do think the timing is right for me to move on, I will definitely miss a few things about working in the company. It is ironic that it took me leaving to realise that KPI's and performance are all well and good, but what's really important are the people and relationships you forge! I have worked with many wonderful and talented people, both in PayPal and within our partner teams - many of whom I am lucky to now call friends. As for what's next, I honestly don't know! I find myself at a crossroads in my life and right now I don't know where this is going to lead, what I will be doing for work or even what country I will living in. All I know is that the plan for now is to get on my motorbike and explore all that Ireland and the UK has to offer (probably with a GoPro strapped to my helmet to record the whole adventure) - after that, who knows; maybe our paths will cross again... Ian #paypal #layoffs #newbeginnings #motorcycle #opentoopportunities

Paypal Mass Layoff Shock Paypal stock is down 80% from all time highs. The reason: -The company focused on growth through buying up other businesses. -Innovation was left to Apple, Zelle & co -Margins dropped -Big investors left The new CEO just launched an advertising business and is cutting waste. Paypal has 29,000 employees. I think they could do more with half the people. Cutting expenses is the first thing a new CEO usually does.  The stock market should like the jobs cuts. Job cuts mean cost cuts. If Paypal executed on promises, it could be worth 2-3x the current share price. I am trading it, but not buying the stock til I see proof of improving margins.

🚨 𝗡𝗲𝘄𝘀 𝗙𝗹𝗮𝘀𝗵: PayPal began company-wide layoff on Tuesday, the latest tech company to cut jobs, as a newly appointed CEO looks to cut costs and improve profits. PayPal’s human resources team told staffers in a meeting of layoff plans, as part of a cost-reduction effort, according to an employee who was in the meeting. The layoffs affected people across multiple teams, including engineering and research and development, according to LinkedIn posts from employees who were laid off. PayPal CEO Alex Chriss, who joined the company in September, has said cutting costs is a priority, noting in a November earnings call that PayPal’s costs were “too high” and “slowing us down.” More info in this The Information source article: https://lnkd.in/ev57jmNa Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ]      #fintech #paypal #paytech #payments #digitalpayments #paymentindustry #financialtechnology #fintechindustry #fintechnews 

PayPal initiated a company wide wave of layoffs, impacting about 9% of the workforce. #PayPal has commenced company-wide layoffs, impacting about 9% of its workforce, translating to roughly 2,500 employees. This decision reflects a broader strategy to streamline operations and focus on core customer needs, as confirmed by President and CEO Alex Chriss in a letter to employees. Under the leadership of Alex Chriss, who joined PayPal in September after a 19-year tenure at Intuit, PayPal is embarking on a transformative journey. The company aims to enhance innovation, accelerate execution, and prioritize solving critical customer problems. This includes driving focus and efficiency across the organization, deploying automation, and consolidating technology to minimize complexity and duplication. In the letter, the CEO underscores 2024 as a pivotal year of change for PayPal, indicating the necessity of tough decisions to align the company with its strategic goals. This follows a previous announcement nearly a year ago about laying off 2,000 employees, or approximately 7% of its workforce, signaling ongoing adjustments to its operational model. The layoffs coincide with recent changes to PayPal's executive team, reflecting a strategic reshuffling aimed at bolstering the company's competitive edge. The #fintech giant, known for acquiring platforms like Venmo, Xoom, A PayPal Service, and Honey, continues to face stiff competition from companies like Apple and Stripe. Notably, Amazon recently discontinued Venmo as a payment option, and PayPal has been challenged by legal actions alleging anti-competitive practices. This happened only a couple of days after the latest features launch from PayPal, where new products were unveiled. And to be honest, it totally took me by surprise. The article on TechCrunch in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/s541W   - Substack: https://lnkd.in/dzfGJzmW

PayPal to Cut Around 2,500 Jobs as Rivals Snag Market Share! PayPal's layoffs reflects a recurrent pattern in corporate strategy: the pursuit of efficiency and adaptation in a rapidly changing market. While these decisions are undoubtedly difficult, they often signal a company's efforts to realign itself with evolving customer needs and technological advancements. However, the implications of such layoffs extend beyond mere numbers; they affect individuals and communities. The human cost of these decisions cannot be overlooked, and it underscores the need for companies to prioritize their employees' well-being amidst restructuring efforts. Moreover, the competitive landscape in the fintech industry is fierce, with players like Apple and Stripe constantly innovating and disrupting traditional models. PayPal's recent initiatives, including leveraging AI-driven personalization and introducing new services like "Smart Receipts," demonstrate its commitment to staying relevant in this ever-changing environment. Yet, challenges persist, as evidenced by recent setbacks such as the loss of Venmo as a payment option on Amazon and the class-action lawsuit alleging anti-competitive practices. These obstacles highlight the complexities and pressures faced by companies like PayPal as they navigate an increasingly crowded and dynamic market. As professionals, it's crucial to critically engage with these developments, recognizing both the business imperatives driving them and the broader societal impacts they entail. Only through informed discussion and collaboration can we strive for a more equitable and sustainable future for all stakeholders involved. 💡 #Fintech #Innovation #CorporateStrategy #FutureOfWork

🌟 Hello Network! 🌟   I'm back from my month off and am grateful to #PayPal for the benefit of time off to celebrate an important work milestone. I will post this Friday with my thoughts on PayPal's recent reduction in workforce which impacted people close to me. I will spotlight a few people in particular that I personally want to help find a new job. More on that with a dedicated post.   For the purpose of this post, I'd like to focus on the power of transformation.   During my sabbatical, I radically changed how I live; below are the steps I took to change:   Elimination of all forms of alcohol Reduction in caffeine intake to a fraction of what I was consuming pre-sabbatical. Changed sleep routine (went to bed at 10:00 every night vs. 11:30 pre-sabbatical) Increased average steps per day from 5,000 to 10,000 (I'll have to be creative on keeping this up now that I'm back) Meditated fifteen minutes per day, every day (vs. when the mood struck me) Did not eat after 6:30 PM (vs. 9:30 or later pre-sabbatical) Read voraciously Watched almost no television Formed a small business with my son given his desire to obtain business skills. More on that once the website is up and running! I'm thrilled for him and excited to see where it goes. 🚀   In short, I feel amazing and it's good to be back. 💫   #Transformation #Wellness #NewBeginnings

Last February PayPal announced that it would cut 2,000 jobs during 2023, which at the time was 7% of its global workforce This January PayPal announced that will cut 2,500 jobs during 2024, which is 9% of its current global workforce In Q4 2023, PayPal's $8bn in revenue was a new quarterly record, but revenue growth has slowed significantly since 2021, when the COVID spending spree peaked... PayPal's guidance noted that the slowdown will continue in Q1 24 and FY 24, giving strong end-of-cycle vibes https://lnkd.in/eGXBds8g

Today, my thoughts are with those affected by the recent layoffs at PayPal. These are undoubtedly challenging times, and it's essential to recognize the myriad of emotions that may accompany such moments. To those of us still here, lets celebrate their achievements, impact and the difference they made in our lives. To my colleagues navigating through these changes, please remember that your skills, experiences, and the impact you've made remain steadfast, untouched by a change in employment. I want to offer my support during this transition. Feel free to reach out via DM if you need assistance with: - Reviewing your resume or polishing your LinkedIn profile. - Conducting mock interviews; I can help with System Design, Soft Skills, and Product rounds. - Providing honest feedback and acting as a supportive mirror for your journey. Remember, you're not alone in this. Change, though challenging, often ushers in something even better. I'm here to help you navigate this chapter and guide you towards new and exciting opportunities. Stay resilient.

Tech giant PayPal joins the layoff trend, axing 2,500 jobs (9% of its workforce). CEO Chriss points to sluggish growth and bloated operations as reasons for the "difficult but necessary" cuts. The move aims to streamline operations, boost efficiency, and drive profitability. Affected employees will be notified this week and offered "utmost respect & support" during the transition. Despite the layoffs, PayPal remains optimistic about its future, vowing to "maximize reach, scale, and resources" to better serve its customers. #PayPalLayoffs #TechIndustry #RightSizing #FutureForward #thesocialtalks

Last week, news of the recent layoffs at PayPal hit hard, resonating deeply with the many incredible individuals I know and worked alongside for years. It brought me back to a year ago, almost to the day, when I too found myself on a roller coaster of emotions after almost 23 years with the company. The ride was a mix of excitement for the new opportunities ahead and fear of the unknown, and after a year, it still is some of the same, as I pursue my Executive, career and life coaching business full time. It was a journey of self-discovery, of realizing that my value isn't tied to a company, role, or title but rooted in who I am and the many roles I play beyond professional labels. For those experiencing this transition, I offer a few pieces of advice: Take Time to Reflect: As your finances and current life circumstances allow, pause for the time and way that works for you and evaluate what truly brings you fulfillment. Use this time to rediscover your passions and envision the next chapter of your journey. Reach Out and Ask for Help: It's okay to lean on your network. Reach out to connections, friends, and mentors. Seek guidance and support during this transition. Don't hesitate to ask for help, even when it feels uncomfortable. Ask for what you need and want or you leave it to assumptions and those always fail us and we come up short. Don't leave your great work and next steps to your career to assumptions, ask for it. Define Your Value Beyond Titles: Challenge the notion that your value is solely defined by your professional title. Reflect on the roles that make you unique, from being a mentor, friend, parent, partner, board member, coach, or community contributor. Embrace and celebrate these aspects of yourself. Share Your Story Authentically: Be proud of who you are beyond your professional identity. Share your multifaceted self with confidence. Go to events and practice this, when introducing yourself, lead with the qualities that make you remarkable in the roles that you play, then share your professional role. Your value does not come from your role or company! As you share your experiences, I commit to actively supporting you. If there's a connection, opportunity, or piece of advice that may benefit you, I'll be there to lend a helping hand and you don't have to ask. If I see it and can make a connection, add to a network, offer a referral, review a resume and offer feedback, or a word of encouragement- I will just do it. If I don't see something you post/need, then please tell me how you need help. When we share what we need, we avoid and eliminate assumptions and that avoids and eliminates hurt feelings and missed opportunities. In times of change, our strength lies in unity and mutual support. Let's navigate this transition together, with resilience, courage, and the unwavering belief that your journey is far from over. #NavigatingChange #CareerTransition #SupportEachOther #ValueBeyondTitles #NewBeginnings