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Microsoft, eBay and PayPal have each announced substantial job cuts since the beginning of 2020, as companies adjust to the challenges and economic uncertainties created by the COVID-19 pandemic.
Since the start of the year, Microsoft has reduced its workforce by over 5,000, eBay has eliminated around 2,100 jobs, and PayPal has cut approximately 1,000 positions.
These job cuts are not exclusive to the tech industry, but have been felt across various sectors as businesses try to navigate the current economic downturn. The global pandemic has caused a slowdown in demand and disrupted supply chains, leading to companies reassessing their operations and adjusting their workforce accordingly.
Companies worldwide are facing unprecedented challenges due to the COVID-19 pandemic and are being forced to make difficult decisions in order to survive and adapt to the new economic landscape.