PayPal is facing increasing competition in the world of online and offline payments services such as Square and Google.
Marcus, wrote in a memo sent out to employees which was obtained by the AP, "If we don’t change, we simply won’t be able to sustain PayPal’s global leadership position over time. And we will not let that happen."
PayPal, which had almost 13,000 employees earlier this year, accounted for 43% of EBay’s revenue last year, compared with 25% in 2007.
This article is from the CBROnline archive: some formatting and images may not be present.
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