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PayPal Prepares Job Cuts As New CEO Takes "Deliberate Steps" In Turnaround Strategy

PayPal shares fell 10% in the early U.S. cash session after CEO Enrique Lores began a turnaround effort aimed at "taking deliberate steps to sharpen focus and accelerate growth."

Lores is pushing forward with a new turnaround plan that could generate at least $1.5 billion in savings for the struggling payment platform over the next two to three years. This will allow the company to reinvest in technology modernization. Lores said in an earnings release that PayPal needs to simplify operations, reduce its cost structure, and focus its investments:

"I'm energized by the opportunity to improve execution and accelerate PayPal's growth. The company has valuable assets in our brands, technology, and team – and there is significant potential ahead of us.

We are taking deliberate steps to sharpen our strategy, simplify our organization, and improve both our growth trajectory and cost structure by focusing our investments where we believe they will have the greatest impact.

I am confident in our ability to put the company on a more durable path to long-term growth and shareholder value creation, and we are executing with urgency."

Lores did not provide specifics on the scale of the coming job cuts, but Bloomberg data show that PayPal has already been trimming its workforce for several years.

The headcount peaked at nearly 31,000 employees in 2021 and has since been reduced to 23,800 as of year-end 2025.

Earlier, the Coinbase CEO announced plans to reduce the company's workforce by 14%, or about 700 employees.

Block recently told investors it would eliminate 4,000 workers, nearly half of its workforce.

We're confident the white-collar job apocalypse will only continue as AI agents replace human workers to streamline operations and trim costs. 

Whatever happened to Stripe's takeover plan of PayPal?

Tyler Durden Tue, 05/05/2026 - 11:45

The "It Ends with Us" co-stars settled their lengthy legal war on Monday.

The "It Ends with Us" co-stars settled their lengthy legal war on Monday.

A 29-year-old man experiencing an irregular heartbeat had an unexpected solution in an area further below his heart.

A Florida mother is facing child abuse charges after she was involved in a physical altercation at a youth football game Saturday in Fort Meyers, the Lee County Sheriff's Office confirmed to The Post.

Martha Stewart and Bethenny Frankel also swear by the drugstore staple.

Martha Stewart and Bethenny Frankel also swear by the drugstore staple.

Tucker drew the boos during both his pregame introduction, as well as when he was announced for his first at-bat of the night.

The Center for AI Standards and Innovation said it will “conduct pre-deployment evaluations and targeted research” to better understand the capabilities and risks that come with new tools. 

The Cupertino, Calif.-based firm has long relied on chips made by Taiwan Semiconductor Manufacturing Co (TSMC). However, Apple has increasingly looked to diversify its supply chain in the face of recent geopolitical turmoil and massive demand from the artificial intelligence race.

Tina Charles has called time on one of the great careers in New York basketball history. The former Liberty star announced her retirement in a heartfelt Instagram post on Tuesday morning after 14 seasons in the WNBA. “It was all a dream,” Charles, 37, began her retirement message to her many fans. “Today, I officially...

Speaking on the AgNet News Hour, Korsgaden painted a troubling picture of an insurance market under strain, where premiums are rising rapidly and, in some cases, policies are disappearing altogether.

Alito Punches Back After Ketanji Insult Following SCOTUS Decision On Voting Rights

Authored by Amy Howe via scotusblog.com,

The Supreme Court on Monday night granted a request to immediately finalize its opinion in Louisiana v. Callais, in which it struck down that state’s congressional map, to allow Louisiana to draw a new map in time for the 2026 elections.

[ZH: Democrats are raging as] that map is expected to favor Republicans, who currently hold four of the state’s six seats in the U.S. House of Representatives but could pick up one or even two more under a revised map.

The United States Supreme Court, in the eyes of America and the world. pic.twitter.com/xerjBPgDz4

— Bill Madden (@maddenifico) May 1, 2026

The court’s decision drew sharp criticism from Justice Ketanji Brown Jackson, the lone dissenter. Jackson argued that the court’s ruling “has spawned chaos in the State of Louisiana.”

Justice Samuel Alito, joined by Justices Clarence Thomas and Neil Gorsuch, wrote a concurring opinion that responded to Jackson with equally sharp words, countering that her rhetoric “lacks restraint.”

🚨 JUSTICE SAMUEL ALITO HAS HAD IT WITH KETANJI BROWN JACKSON

Joined by Clarence Thomas and Neil Gorsuch, Alito EVISCERATED Jackson for her combative and "insulting" dissent:

"Instead the dissent offers 2 reasons for its proposed course of action. One is TRIVIAL at best, and… pic.twitter.com/u4idr8ALPT

— Eric Daugherty (@EricLDaugh) May 5, 2026

In an unsigned, one-paragraph order, the court explained that, to give the losing party time to ask the justices to reconsider their decision, the Supreme Court’s clerk normally waits 32 days after a decision is issued before sending a copy of the opinion and the judgment to the lower court.

But, the court wrote, in this case the Black voters defending the map at the center of the dispute “have not expressed any intent to ask this Court to reconsider its judgment.”

The court issued its decision in Louisiana v. Callais on Wednesday, April 29. By a vote of 6-3, it invalidated a map adopted by the Louisiana Legislature in 2024, which created two majority-Black districts after two lower courts ruled that an earlier map with just one majority-Black district likely violated Section 2 of the Voting Rights Act, which bars racial discrimination in voting.

Later that day, the “non-African-American” voters who had challenged the 2024 map came to the Supreme Court, asking the justices to bypass its normal 32-day waiting period and finalize the opinion as soon as possible. The voters told the justices that the Louisiana Legislature was “considering pushing back” the deadlines for the state’s congressional primaries to allow them “to occur under a remedial map.” Finalizing the opinion immediately, they argued, could give the state more breathing room in which to operate, given the short timeframe in which the state would need to revise the map.

One day later, Louisiana told the court that it would indeed postpone the state’s primary elections for Congress, which had been scheduled for May 16. In the view of Louisiana Gov. Jeff Landry, a Republican, the use of the 2024 map would constitute the kind of emergency that justifies a postponement under Louisiana law, because “electing members to Congress under an unconstitutional map flies in the face of the United States Constitution and subjects Louisiana voters to representatives that are impermissibly elected as determined by the United States Supreme Court, in a 6-3 decision.”

In her four-page dissent, Jackson suggested that the court itself was taking sides in the battle over redistricting. She wrote that developments in the wake of last week’s ruling in Callais “have a strong political undercurrent.” Louisiana’s effort to redistrict, she said, “unfolds in the midst of an ongoing statewide election, against the backdrop of a pitched redistricting battle among state governments that appear to be acting as proxies for their favored political parties.”

Moreover, Jackson noted, in the last 25 years, when one litigant has objected to a request to fast-track the issuance of its final opinion, the court has only granted the request twice. “To avoid the appearance of partiality,” she emphasized, “we could … opt to stay on the sidelines and take no position by applying our default procedures.” But by granting the challengers’ request, she said, the court’s action “is tantamount to an approval of Louisiana’s rush to pause the ongoing election in order to pass a new map.” 

In a five-paragraph concurring opinion, Alito called Jackson’s suggestion that the court should allow the 32-day waiting period to expire “to ‘avoid the appearance of partiality’” “baseless and insulting.” Complying with the waiting period, Alito posited, could itself be construed as partisan, because it would favor the defenders of the 2024 map. Alito also pushed back against Jackson’s contention “that our decision represents an unprincipled use of power,” calling it a “groundless and utterly irresponsible charge.”

The Louisiana Legislature plans to hear public comments on Friday on a new proposed map, which would include one majority-Black district. Meanwhile, lawsuits have been filed in both federal and state courts in Louisiana, challenging Landry’s postponement of the May 16 primary.

Tyler Durden Tue, 05/05/2026 - 11:30

"You want to pre-decease your dog," Ripa said.

Cereulide is a toxin produced by the bacteria Bacillus cereus, which may cause diarrhea, vomiting and stomach pains.

She hid more than 300 carats of diamonds atop her crystal-studded look.

She hid more than 300 carats of diamonds atop her crystal-studded look.

The incident is the latest attack since four ambulances owned by a Jewish charity were torched in March.

The couple and their A-list friends were spotted arriving at Crane Club's Members Lounge through a blocked-off entrance to shield the paparazzi.

The couple and their A-list friends were spotted arriving at Crane Club's Members Lounge through a blocked-off entrance to shield the paparazzi.