“But PayPal raised EPS guidance for the full fiscal year, saying it’s benefited from "ongoing productivity initiatives."”
PayPal beat earnings and revenue expectations, raised its EPS guidance, and is cutting 2,000 jobs anyway. Dan Schulman calls it “rightsizing” and says “we will face this head-on together.” The 2,000 people leaving won’t be facing anything together with him. Shareholders get the productivity and the staff get the macroeconomic environment.