PayPal layoffs, on the record
Every job cut, severance charge and restructuring PayPal reported in its annual reports, 2022 to 2025, quoted from the filings. Headcount went from approximately 29,900 to approximately 27,200.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2022 | approximately 29,900 | December 31, 2022 |
| 10-K for 2023 | approximately 27,200 | December 31, 2023 |
Job cuts, severance and restructuring
Our summaryIn early 2022 management started a strategic cut of its global workforce to streamline operations and improve efficiency, mainly incurring severance, benefits and consulting costs.
Word for word“The associated restructuring charges during the year ended December 31, 2022 were $121 million.” 10-K for 2022
Our summaryIn early 2020 management approved a multiphase strategic cut of its global workforce tied to redesigning its operating structure; it was mostly finished in 2021.
Word for word“During the year ended December 31, 2021, the associated restructuring charges were $27 million.” 10-K for 2022
Our summaryIn January 2023 management began another global workforce reduction to focus on core priorities and improve costs, expected to affect about 7% of employees.
Word for word“We estimate that this reduction will impact approximately 7 % of our employees and will result in approximately $ 100 million of restructuring charges, primarily related to employee severance and benefits costs.” 10-K for 2022
Our summaryManagement started a global workforce reduction in early 2023 to focus on core priorities and improve costs, mainly with severance and benefits costs.
Word for word“The associated restructuring charges in 2023 were $ 122 million.” 10-K for 2023
Our summaryIn January 2024 management began another global workforce reduction, expected to affect about 8% of employees and to cost about $120 million.
Word for word“We estimate this reduction will impact approximately 8 % of our employees and result in approximately $ 120 million of restructuring charges, primarily related to employee severance and benefits costs.” 10-K for 2023
| Fiscal year ended | Restructuring charges | Cash paid for restructuring |
|---|---|---|
| 2016-12-31 | $0 | — |
| 2018-12-31 | $25 million | — |
| 2019-12-31 | $78 million | — |
| 2020-12-31 | $109 million | $63 million |
| 2021-12-31 | $27 million | $77 million |
| 2022-12-31 | $121 million | $102 million |
| 2023-12-31 | $122 million | $142 million |
| 2024-12-31 | $307 million | $196 million |
PayPal has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from PayPal’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023, 10-K for 2022) and the financial data it files with the SEC, as of 2026-02-03. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.