David Marcus brings startup energy to PayPal

PayPal, the world leading online payment provider that employing 13,000 employees is planning to streamline its business and to be focused in product development, technology and marketing, under the new leadership of the President David Marcus. Under David’s effort, 300 to 400 jobs or about 3 per cent of PayPal’s work force are expected to be cut in the next few weeks, Bloomberg reported.

The job cuts will be PayPal’s first major reduction since the financial crisis in 2008.

by Alice Lee