About 7% of the workforce is being laid off by PayPal

PayPal is cutting 2,000 full-time employees, or about 7% of its workforce. The company announced the job cuts on Tuesday. PayPal says it is laying off about 2% of the workforce in the coming weeks. PayPal is the largest-endowment company in the world and has more than 1,000 employees.

PayPal said it will make the cuts over several weeks, with some of its organizations affected more than others. The company did not further specify.