ExplicitMay 5, 2026· Technology
PayPal
On May 5, 2026, PayPal announced 4,760 job losses. The company explicitly cited AI as a factor.
Jobs lost
4,760~
US jobs
—
Workforce
23,800
% of workforce
—
Editorial note
Announced May 5, 2026 alongside Q1 earnings: a turnaround plan to cut ~20% of the global workforce (~4,760 of ~23,800) over two to three years, targeting at least $1.5B in run-rate savings. The 4,760 is a derived ~20% figure and a phased worldwide planning target, not a single reduction-in-force. CEO Enrique Lores tied the plan directly to AI, including a dedicated 'AI Transformation & Simplification' function. No US-specific or WARN number was disclosed, so the worldwide total is shown but the figure is not added to the US counter.
Sources