May 7, 2020 / 2:53 PM / 2 months ago

BRIEF-Paypal Holdings Says During Q1, Management Approved Strategic Reduction Of Existing Global Workforce

May 7 (Reuters) - PayPal Holdings Inc:

* PAYPAL HOLDINGS SAYS DURING Q1, MANAGEMENT APPROVED STRATEGIC REDUCTION OF EXISTING GLOBAL WORKFORCE, RESULTED IN RESTRUCTURING CHARGES OF $29 MILLION

* PAYPAL HOLDINGS - APPROVED STRATEGIC REDUCTION IN 2020 PART OF MULTIPHASE PROCESS TO REORGANIZE WORKFORCE CONCURRENTLY WITH REDESIGN OF OPERATING STRUCTURE

* PAYPAL HOLDINGS - PRIMARILY INCURRED EMPLOYEE SEVERANCE, BENEFITS COSTS UNDER 2020 STRATEGIC REDUCTION, AS WELL AS OTHER ASSOCIATED CONSULTANCY COSTS

* PAYPAL HOLDINGS SAYS STRATEGIC REDUCTION OF THE EXISTING GLOBAL WORKFORCE EXPECTED TO BE SUBSTANTIALLY COMPLETED BY THE END OF 2020 - SEC FILING Source text : (bit.ly/2Lew94N) Further company coverage:

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