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Elliott Builds PayPal Stake Seeking to Speed Cost Cuts

Elliott Builds PayPal Stake Seeking to Speed Cost Cuts
  • July 28, 2022
  • Fintech, Insights

Elliott Management, an investment management firm, is building a meaningful stake in PayPal Holdings, Inc. the fintech payment giant that has been firing staff and closing offices to cut expenses. Elliott intends to encourage PayPal to expedite these cost-cutting initiatives. The activist investor might eventually rank among the top five shareholders of the corporation. While more shoppers are coming back to in-store shopping, the SMEs are dealing with supply chain disruptions, and once-in-a-generation levels of inflation that have hampered e-commerce consumers. Although employment cuts will ultimately help Paypal save roughly $260 million a year in employee-related expenditures, PayPal has cautioned that it also expects an additional $100 million in restructuring charges this year.

Elliott Builds PayPal Stake Seeking to Speed Cost Cuts

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