PayPal's intention in 2022 to lay off some of its workforce means the end of a significant increase in employees in previous years. The company reported to have "approximately" 30,900 employees as of December 31, 2021 - although it does not mention whether these were full-time or part-time employees. Economic downturns - including fears over a new U.S. recession in 2022 - as well as a growing savings interest rate impacted several companies that were growing at a fast pace in the wake of COVID-19 and when many people started exploring fintech solutions and cryptocurrency investments during the lockdowns. Paypal user numbers reflect this changing environment: Whilst the number of active accounts on PayPal did still increase in 2022, the growth slowed down compared to previous years.

In 2022, the number of employees of the company Paypal Holdings headquartered in the United States decreased by one thousand persons (-3.24 percent) since 2021. This was the first time during the observed period that the number of employees for this company declined.Find more detailed information about the company at Statista Company Insights and a detailed description of the methodology on our dedicated page.

In 2023, Amazon.com was the top-ranked internet company based on number of employees. The e-commerce giant reported a workforce of more than 1.52 million employees. Amazon has consistently topped the ranking as the online company with the biggest workforce, but the global COVID-19 pandemic has widened the gap as e-commerce has boomed since. During the same period, Meta (formerly Facebook Inc.) had a total of 67,317 full-time employees. Additionally, Google's parent company Alphabet had 183,323 full-time workers in 2024.

The tech industry had a rough start to 2024. Technology companies worldwide saw a significant reduction in their workforce in the first quarter of 2024, with over 57 thousand employees being laid off. By the second quarter, layoffs impacted more than 43 thousand tech employees. In the final quarter of the year around 12 thousand employees were laid off. Layoffs impacting all global tech giants Layoffs in the global market escalated dramatically in the first quarter of 2023, when the sector saw a staggering record high of 167.6 thousand employees losing their jobs. Major tech giants such as Google, Microsoft, Meta, and IBM all contributed to this figure during this quarter. Amazon, in particular, conducted the most rounds of layoffs with the highest number of employees laid off among global tech giants. Industries most affected include the consumer, hardware, food, and healthcare sectors. Notable companies that have laid off a significant number of staff include Flink, Booking.com, Uber, PayPal, LinkedIn, and Peloton, among others. Overhiring led the trend, but will AI keep it going? Layoffs in the technology sector started following an overhiring spree during the COVID-19 pandemic. Initially, companies expanded their workforce to meet increased demand for digital services during lockdowns. However, as lockdowns ended, economic uncertainties persisted and companies reevaluated their strategies, layoffs became inevitable, resulting in a record number of 263 thousand laid off employees in the global tech sector by trhe end of 2022. Moreover, it is still unclear how advancements in artificial intelligence (AI) will impact layoff trends in the tech sector. AI-driven automation can replace manual tasks leading to workforce redundancies. Whether through chatbots handling customer inquiries or predictive algorithms optimizing supply chains, the pursuit of efficiency and cost savings may result in more tech industry layoffs in the future.

Cryptocurrency payments are forecast to grow at a CAGR of nearly 17 percent between 2023 and 2030, although the market is relatively small. The forecast is according to a market estimate made in early 2023, based on various conditions and sources available at that time. It should be noted, however, that cryptocurrency used for payments is predicted to be a far smaller market than the predicted transaction value of CBDC, or the forecast market size of instant payments. Indeed, research from early 2023 across 40 countries suggested that the market share of cryptocurrency in e-commerce transaction was "less than one percent" in all survey countries, with predictions being this would not change in the future.

In 2022, eight out of 10 top global buy now, pay later (BNPL) markets worldwide were in northwestern Europe as consumers looked for new e-commerce payment methods. The market share of BNPL services in domestic e-commerce payments in both Sweden and Germany was around ten times higher than the same market share in global e-commerce payments. The popularity of Sweden's BNPL provider Klarna may be at the heart of this, one of the most used online payment methods among German consumers in 2023.

Is BNPL still growing? The global buy now, pay later market size will increase by nearly 450 billion USD between 2021 and 2026. This would mean a further acceleration of growth. Whether the cost of living crisis impacts these figures is not immediately clear. Some believe it may drive consumers to use buy now, pay later more often. On the other hand, a global economic downturn led Klarna's private-market valuation to fall by 85 percent in 2022. Consequently, the company laid off 700 employees.

Brand preference varies per country The country of origin of a BNPL brand can impact its adoption. Estimates based on website tracking and the technologies used within them reveal that merchants from Sweden, and especially its neighboring countries, offered Klarna relatively more often than anywhere else. This extended beyond the Nordics. Merchants from Australia and New Zealand were more likely to offer Afterpay - which comes from Australia - than e-commerce websites from other parts of the world. The United States is home to several major brands like Affirm, Sezzle, and Zip. These face competition from PayPal.