PayPal Targets $1.5B in Cuts as Checkout Slows

PayPal ’s first-quarter earnings announcement, conference call commentary and guidance Tuesday (May 5) described a company in the midst of an overhaul. Enrique Lores , newly ascended to the CEO role , is moving to reconfigure the network, sharpen the consumer proposition and place artificial intelligence at the center of how the platform operates. On the call, Lores made clear that the work is operational.