Xoom is among the worst of the payment systems. Legit customers get rejected for sending money to family members. This was bound to happen. I will be glad if someday PayPal goes down under.
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Between San Francisco and Guatemala Xoom offices more than 30 jobs were cut. From announcement to the door no more than an hour, personal items were shipped via courier two days after. Most of the people had great performances and had several years with the company. At Xoom we were excited to be part of PayPal you know? Being part of something bigger, more opportunities to grow and do stuff... reality hits hard.
This is really sad.. unfortunately only engineers on the ground get impacted who are building stuff and making impact. Horrible leaders are not impacted. Over the years PayPal has become a place of a-- licking leadership.. they just ensure they don't go against their bosses and as a result they are always safe despite doing blunders and not delivering anything.
Nowadays in PayPal only relationships matter and not people who make an impact.
Never seen that large scale at PP and I don’t think it’s the last time. Revenue was down Q4 and there was an infamous email from high exec in Feb (which cost him his job) highlighting unprecedented measures for turn around. Many layoffs in SJ and SF and around the globe. Long term tenure people and high performers; next one will be much larger.
So sad! Laying off people with long tenure, took minutes to inform the employees to escorting them out of the building. So demeaning! There will be another round in June . Simple rule, cheap labor and out with the oldies.
Don't understand why they would lay off so many well rated employees when their stocks are doing so well
Poor mgmt. It promotes people too early / soon and then dump them when theh are top heavy
Looks like cost cutting to remove seniors and hire jr engrs in low cost Center. Massive lay off in SJC
If you couldn’t tell by now the layoffs were real and vast. They are bringing in new roles to replace some (this means young btw) so they could cull the more experienced and older professionals. Best of luck to those who remain.
@1dar PayPal lost loyalty probably six or seven years ago, reorg after reorg, layoffs, etc. At this point, people have been disillusioned for a while and I do not see it changing. There is still a good core of legacy employees and some new folks but overall, the org changes ruined things.
Here in my country, paypal laid off several dudes saying it was a reorg. Not a paypal employee myself, but if the layoffs are for reducing costs then I would expect to see cheaper fees then. If not, I will move to another option.
Yes, lot of lay offs across the company., some performance related , mostly eliminating sr employees or teams to hire more people in cheaper locations outside USA
Yes it is true ,they are laying off in Bangalore and Chennai .
I really think they have been taking total comp in consideration for this round, I know only two people that got cut this week and both were senior folks with a lot of tenure - numbers add up over years and I think they were compensated more if compared to others. Not sure, I do not want to trash PayPal here and I know the company has issues, but I really think they based the selection on TC first and everything else second. My 2 c only
They laid off some of their oldest members today. People who were with the company for 15+ years. Company loyalty is dead.
Lots of folks were impacted in India offices in Bangalore and Chennai.
Major reorganization and layoffs.
PayPal Austin is laying off employees. Selling my employee stock options.
In Xoom Guatemala there were at least 3 people that I know that were fired and performance was not the reason
~10% across different BUs globally. Started with Israel, followed by the rest of the company. Done under the guise of "restructuring".
Call it 10% roughly.
Massive layoffs. Saw several employees going into conference rooms filled with legal, HR and managers and coming out with security to walk them out. Unfortunate..
It happened in Chennai, India too. My colleague too got affected.
Five people got affected in front of me. Ten people got affected from DevX. PayPal is giving wrong signal to the H1B visa holders.
Yes, Xoom SF layoffs happened today – judging on who got laid off (no names allowed on this board) I can confidently say they did not consider performance as the key factor when deciding who will be leaving PayPal. Some REALLY good folks were let go and that’s bad, really bad. I hope it’s over, but we all know it’s not.
Several layoffs in xoom san francisco officee, even managers
At least 10 more layoffs in Guatemala city offices for Xoom
Which departments were affected ? Post your departments and numbers please.
Layoffs are in USA too - not just Isreal or Malaysia
Not sure why people are surprised. Back on Monday about 30 folks in Israel were called and told that there will be regorg of massive proportions – early warning. Some were offered positions elsewhere, some were not. Back in February, it was announced that Customer Service in Malaysia will be axed completely, another internal reorg. The reason we are cutting in Israel is because it’s perceived that Israeli resources are too expensive, now imagine how they perceive each of us here in the States. Tel Aviv will stay around but it will be much smaller. We’ll see what happens.
Yes, a major layoff in progress. Don't know numbers but it's significant.
I know all employees (Presumably unaffected ones) were asked to go back home Mid Day. Looks like a major one
yes! I personally know 3 people who were affected and all of them were highly rated employess