PayPal to carve out Venmo in major restructuring under new CEO: report
PayPal is preparing a significant internal restructuring that will carve out Venmo as a standalone business segment, according to a report by CNBC. The move signals a broader effort by new chief executive Enrique Lores to streamline operations and unlock value at the payments company. The reorganisation comes as PayPal faces intensifying competition in digital payments and seeks to regain investor confidence after a prolonged slump in its share price. Shares of PayPal were up by over 2.5% on Wednesday at the time of writing. Venmo to operate as independent segment Under the proposed changes, Venmo will be separated from PayPal’s core operations and reported as an independent segment. The shift is expected to provide greater transparency into the app’s...
