PayPal Holdings Inc.’s volume growth on its platforms slowed even faster than expected in the final three months of last year.
PayPal Holdings Inc.’s volume growth on its platforms slowed even faster than expected in the final three months of last year, yet another sign that consumer spending continued to stumble even during the normally busy holiday season. The firm also said Chief Executive Officer Dan Schulman plans to retire at year-end.
“2022 was a transformative year for PayPal,” Schulman said in a statement announcing fourth-quarter results. “We invested in our platform to better serve our customers, while focusing and streamlining our business. We will continue this work throughout 2023.” To that end, the company said earlier this month it would dismiss 2,000 employees, or about 7 per cent of its workforce. On Thursday, PayPal said it would record US$100 million in charges tied to that restructuring in the current quarter.
Schulman, 65, joined the company in 2014. He’ll remain on the board and will help ensure “a smooth leadership transition” during a search for the next CEO, the company said in a separate statement.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Freshii to be acquired by Foodtastic Inc. – Canadian InvestorFreshii to be acquired by Foodtastic Inc. CanadiansInvest
Read more »
Saputo Inc. sees earnings double in third quarter amid higher prices - Montreal | Globalnews.caSaputo says the uptick in revenues reflects pricing initiatives across all its sectors, higher prices in the U.S. sector, and higher international dairy prices.
Read more »
Saputo Inc. sees earnings double in third quarter amid higher pricesMontreal-based company says earnings per diluted share for its third quarter ended Dec. 31 were 43 cents, up from 21 cents in the same quarter last year
Read more »
Cineplex CEO says company is open to ‘experiments’ with cheaper tickets - National | Globalnews.caTicket prices have become a greater focus for movie chains across North America as they look to drive profits after years of staggered closures.
Read more »
Cineplex lowers ticket prices for '80 For Brady' but CEO says it's an 'experiment'TORONTO — While audiences rush back to theatres to catch “Avatar: The Way of Water” on pricey Imax screens, the head of Cineplex Inc. says he’s open to…
Read more »
Family of tech CEO killed in 2018 Toronto shooting renews $250,000 rewardMatthew Staikos was with his friend and had just wrapped up a late\u002Dnight meeting when someone got out of a silver Mercedes and shot him, police said
Read more »