Woke payment processor PayPal has announced plans to lay off approximately 2,000 employees amid recent reports the company is facing competition from Twitter with an alternative payment tool.
PayPal laid off seven percent of its workforce, varying different business segments.
The company said the layoffs are in response to a challenging macroeconomic environment, which came on the heels of other big tech companies like Google and Microsoft cutting their staff last month.
President and CEO of PayPal, Dan Schulman, said the business would treat departing employees respectfully and offer them generous packages to aid in their transitions, Engadget reports.
During its most recent earnings call, PayPal outperformed Wall Street expectations despite the economic climate, with revenue and income rising by 11 percent and seven percent, respectively.
“While we have made substantial progress in right-sizing our cost structure, and focused our resources on our core strategic priorities, we have more work to do,” Schulman said.
But PayPal has faced massive criticism for blacklisting those it disagrees with politically, such as evolutionary biologist Colin Wright who dared to criticise transgender ideology.
As Breitbart reported last year, Colin Wright, a contributing editor to the academic publication Quillette, was blacklisted by PayPal and Etsy for allegedly “glorifying hatred or violence towards protected groups,” which Wright called “totally outrageous.”
An outspoken critic of the woke left, Wright recently published an article criticizing sports authorities for allowing biological male Lia Thomas to compete against female swimmers.
“PayPal has notified me that ‘after a review, we have decided to permanently limit your account,'” reported Wright.
“I used PayPal to receive both 1-time and recurring donations from my supporters. When I asked why, they said I needed an attorney to submit a subpoena to find out.”
PayPal has been blacklisting critics of the woke left for years.
Last August, a co-founder of the company, David Sacks, slammed the company for blacklisting customers.
“Kicking people off social media deprives them of the right to speak in our increasingly online world,” wrote Sacks. “Locking them out of the financial economy is worse: It deprives them of the right to make a living.”
Last year, Google searches for “how to cancel PayPal” and “cancel PayPal account” began to surge after the company announced it would fine its users $2,500 from “spreading misinformation.”
Global Google searches for “delete PayPal” also spiked 1,392% following the platform’s announcement.