PayPal to cut 2,500 jobs

The newly appointed CEO of payments company PayPal, Alex Chriss, has announced that the company will undergo a "right-sizing" process that will involve cutting down 2,500 jobs, or 9% of its workforce, this year. The affected employees are…

Amazon abandons acquisition of iRobot

Amazon and iRobot have jointly declared the termination of their proposed merger due to significant opposition from antitrust regulators in the European Union and the United States. Amazon stated that its planned $1.4 billion acquisition…