ChainCatcher news, PayPal CEO Alex Chriss stated in a letter to employees on Tuesday that PayPal is "right-sizing" the company through direct layoffs and the cancellation of open positions, planning to lay off about 9%, affecting approximately 2,500 employees, and noted that the layoffs will enable the company to "meet customer demand and drive profitable growth at the pace required."It is reported that as of the end of 2022, PayPal employed about 29,900 employees. The company conducted a round of layoffs last January, cutting about 7% of its workforce. However, despite these measures, PayPal's stock price has continued to be under pressure, falling 61% over the past two years and down 79% from its all-time high of $308.53 set in July 2021.

ChainCatcher news, according to Bloomberg, the blockchain infrastructure company behind the Polkadot platform, Parity Technologies, will lay off 30% of its workforce, approximately 100 employees. Parity CEO Björn Wagner stated that the layoffs will affect the market expansion team as Parity shifts its focus to supporting the technology of Polkadot.Previous news, on October 12, insiders reported that Parity Technologies would lay off over 300 people, which was later denied by Parity Technologies, stating that it seeks to transfer some existing marketing functions to several decentralized teams within the Polkadot ecosystem, which will affect the company's staffing in the coming months.

ChainCatcher news, according to CoinDesk, Chia Network announced today that it has laid off one-third of its staff, terminating 24 out of 70 employees, citing the loss of its banking partner Credit Suisse as the reason for the delay in the company's IPO.Chia CEO Gene Hoffman stated that although layoffs have occurred, the company is still considering the initial sale of some of its held XCH tokens as backup funding for its IPO. Chia currently holds 2.6 million XCH, valued at approximately $70 million.Chia stated last week that it has established a new banking relationship, but still needs to wait for the review by the U.S. SEC.

ChainCatcher news, blockchain data platform Nansen announced a 30% layoff. Its CEO Alex Svanevik stated in a tweet that the decision to reduce the Nansen team size was difficult. He pointed out that Nansen expanded too quickly, leading to its extension into areas that do not belong to its core strategy, resulting in excessive costs. Additionally, due to the current bear market, the past year in the crypto market has been brutal, and its top priority is to establish a sustainable business. (source link)

ChainCatcher news, according to CoinDesk, cryptocurrency custody company Copper stated that up to 15% of its employees may face layoffs. Copper currently has over 300 employees, and a spokesperson said the layoff process has just begun, and the company cannot provide an exact number of layoffs. (Source link)

ChainCatcher news, in response to the previous market rumors about "Binance possibly laying off employees," a Binance spokesperson clarified to Cointelegraph: "As of today, we are actively hiring for over 500 positions, with the goal of filling these vacancies before the end of the first half of the year. We have no plans for layoffs."The spokesperson stated that the company has hired over 600 employees since the beginning of 2023. (Source link)

ChainCatcher news, according to the Sydney Morning Herald, the Australian company Immutable (the developer of Immutable X) is conducting a layoff of 11%. Immutable CEO and co-founder James Ferguson stated that the layoffs are due to the need to maximize the duration of cash reserves and allocate resources to the most important projects.In a notice to employees, James Ferguson mentioned that Immutable earned $27 million in the past fiscal year but spent $83 million. A spokesperson stated that the company has A$280 million in cash on its balance sheet, which can sustain operations for 4 years at the current spending rate. (source link)

ChainCatcher news, according to Bloomberg, Coinbase Chief Financial Officer Alesia Haas stated that Coinbase Global had two rounds of layoffs last year, but further layoffs cannot be ruled out if necessary to improve the company's financial performance.It is reported that the company previously stated it would strive to maintain a balanced budget, but changed its strategy when announcing its financial report on Tuesday, indicating that it will now work to keep EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) as a positive figure. (source link)

ChainCatcher news, according to sources cited by The Wall Street Journal, Meta CEO Mark Zuckerberg told hundreds of executives that the layoff plan will begin on Wednesday morning, taking responsibility for it himself, stating that he is accountable for the company's mistakes and overstaffing. This layoff could be the largest in its nearly 20-year history. (The Wall Street Journal)