Job cuts in 2024: PayPal slashes 2,500, UPS to Lay Off 12,000

In 2024, PayPal announces a workforce reduction of 2,500 jobs, constituting 9% globally, aiming to "right-size" for agility and growth. Concurrently, UPS plans to lay off 12,000 employees, exploring strategies like selling its Coyote truck brokerage business to offset challenges in demand and labor costs.