PayPal Holdings underwent major corporate restructuring in February 2026, combining significant workforce reductions with a surprise leadership change. The Board removed CEO Alex Chriss on February 3, 2026, citing "pace of change and execution was not in line with expectations" after missing profit and revenue targets. PayPal named Enrique Lores as new CEO effective March 1. Layoffs targeted 1,000-1,500 employees, with India being significantly affected.