PayPal's sudden $900 million cost cutting creates a huge new challenge

PayPal’s sudden $900 million cost cutting creates a huge new challenge

PayPal has only known a growth, growth, growth mindset under long-time CEO Dan Schulman. That mindset officially ended as of August 2 as PayPal switches tactics to appease activist investor Elliott Management, which has disclosed a $2 billion stake in the payments giant. Late Tuesday, the company outlined $900 million in cost cuts — mostly …

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