The payment platform PayPal has communicated its intention to reduce its workforce by around 7%, which will mean the departure “in the coming weeks” of some 2,000 workers, as announced by the president and CEO of the company, Dan Schulman.

The executive explained that while PayPal has made significant progress in strengthening and reshaping the company to address the difficult macroeconomic environment and adjusting its cost structure, it still has work to do.

“We have more work to do. We must continue to change as our world, our customers and our competitive landscape evolve,” he said.

In this way, PayPal joins the wave of massive layoffs that have affected the technology sector in recent weeks with the announcements of job cuts made by multinationals such as Microsoft, Alphabet, Amazon or IBM.