$PayPal(PYPL)$is a great business. It is profitable, growing and debt-light.

However, it is a excellent example of the fact that even a great business can be a bad investment when you pay too high a price for it.

PayPal was one of the biggest beneficiaries during the pandemic and its stock surged to as high as $310 bu July 2021. But as economies re-open, it is now suffering through a slowdown in its business and this is reflected in it stock falling 70.3%from its record.

The company recently cut its guidance as supply chain disruptions were impacting its e-Commerce making it difficult to forecast its business.

Meanwhile, as reported by Bloomberg, PayPal has begun laying off staff in US while also proposing to cut staff in Ireland. This move was made to shore up profits after its growth stagnated in recent quarters.

Let's see whether this move contributes to the desired results when PayPal releases it next quarter earnings on 27 July 2022.