Elliott Investment Management is reportedly getting set to turn up the heat on PayPal Holdings Inc. to speed its cost-cutting.
The activist investor is building a stake in the San Jose-based payments giant that has already been cutting staff and closing offices, according to the Wall Street Journal and Bloomberg. The size of Elliott's stake isn't known yet but Bloomberg said it could ultimately become one of the company’s five-largest shareholders.
PayPal shares (Nasdaq:PYPL) jumped on the news…
