In a letter to employees, PayPal says it plans to lay off around 2,500 employees, or about 9% of its workforce, and will cut back on open roles (Paige Smith/Bloomberg)

Paige Smith / Bloomberg:

In a letter to employees, PayPal says it plans to lay off around 2,500 employees, or about 9% of its workforce, and will cut back on open roles  —  – CEO Alex Chriss has vowed to improve operating leverage  — Latest round of cuts will affect about 9% of the workforce