Saturday, July 13, 2024

PayPal to cut another 85 Irish jobs in plan to become ‘more productive’

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Payments company PayPal is to cut another 85 jobs in Ireland as it presses ahead with a “strategic transformation” announced earlier this year.

The group, which employs about 1,600 people here, said the move was being taken to help it become “a more productive company that’s focused on its key priorities”.

“As part of this transformation, PayPal today told its employees in Ireland that it is proposing to reduce its workforce in Ireland by up to 85 roles,” said a spokesman for the group.

He said the proposed changes are subject to consultation, and that no redundancies will take effect until after a consultation process has concluded.

“PayPal is committed to ensuring that colleagues who leave under the proposed changes are treated fairly,” he said. “It is offering discretionary enhanced redundancy and support packages to help them as they move to the next step in their careers.”

The spokesman for the company said PayPal “remains committed” to Ireland and its role as “a critical hub” for the company’s global operations.

The group cut 205 jobs from its Irish workforce in February as part of what it called a global effort to “right-size” the company.

The latest round of cuts will be a blow to the Irish workforce. PayPal was among the tech companies that cut staff throughout 2023, announcing early in the year that it was to reduce its global workforce by 7 per cent.

That included a number of jobs in Dublin and Co Louth, with an office in Dundalk also closed as part of the cost-cutting plan.

The company announced it would sell its Ballycoolin offices and move to a smaller premises that could accommodate staff from both Dublin and Dundalk. Attendance at its offices had remained low following the pandemic, the company said.

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