Payments giant PayPal is the latest company to announce a mass culling, with President and CEO Dan Schulman confirming it will shed some 2,000 workers.

The company saw shares jump by 2 per cent after the announcement.

Schulman said the “right-sizing” will impact some organisations more than others, with staff to be told specifics in the next days and weeks.

“Change can be difficult – particularly when it includes valued colleagues and friends departing,” Schulman wrote in a company letter.

“We will face this head-on together, drawing on the unparalleled scale of our global platform, the strategic investments we have made to strengthen our core capabilities, and the trust and loyalty of our customers.”

PayPal will release its Q4 and full-year results on February 9. Given the mass “right-sizing”, the numbers aren’t expected to be too flash.