9% of global workforce, ~2500 employees.

https://www.bloomberg.com/news/articles/2024-01-30/paypal-to... | https://archive.today/XSojt

What's causing all these layoffs? Like, it's all I read in my feeds these days! Economic downturn or something more novel, like AI replacing jobs?

Desperation for trailing returns that have evaporated post "COVID bump" and ZIRP. Labor market is firing on all cylinders [1], it is the capital markets that are sad [2].

[1] https://www.axios.com/2024/01/30/us-job-openings-report-stea...

[2] https://www.bloomberg.com/news/articles/2023-10-14/end-of-co... | https://archive.today/0V56d