Section
Business
Technology
PayPal to cut 4,500 jobs in $1.5bn AI restructuring as it tries to 'become a technology company again'
PayPal will cut roughly 20 per cent of its workforce, more than 4,500 employees, over the next two to three years as part of a $1.5 billion cost-saving plan that the company is pitching as an artificial-intelligence-driven turnaround, chief executive Enrique Lores told investors on a first-quarter earnings call.
By Kai Mendel
Technology
AI build-out costs are reaching consumer pockets, tech earnings show
The cost of the AI build-out has begun to flow through to consumer-electronics buyers, with the latest Big Tech earnings revealing rising prices on devices, subscriptions and cloud services as hyperscalers funnel profits into AI capacity.
By Kai Mendel
