PayPal is restructuring into three business units as part of a major operational overhaul. The company will organize around Checkout Solutions & PayPal, Consumer Financial Services & Venmo, and Payment Services & Crypto. This reorganization aims to streamline operations and accelerate long-term growth.

CEO Enrique Lores said the move reflects a commitment to fundamentals: getting closer to consumers, aligning around strong businesses, simplifying work processes, and sharpening accountability. The restructuring represents PayPal's effort to unlock its full potential through operational excellence and clearer business focus.

CNBC previously reported that Venmo might be separated into its own unit ahead of a potential sale, suggesting PayPal could be preparing to divest the popular peer-to-peer payment service. The company's broader strategy appears focused on simplifying its structure to drive future performance.