Saturday, July 13, 2024

PayPal to cut up to 85 Irish jobs in second round of layoffs this year

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PayPal has announced it will cut up to 85 more jobs from its Irish workforce.

The company’s 1,600 Irish employees were informed on Tuesday of the cuts, however, PayPal added that the proposed changes are subject to consultation and no redundancies will take effect until after a consultation process has concluded.

Today’s announcement marks the second round of cuts to Irish PayPal staff this year. 

In February, the payments giant announced it would cut 205 jobs from its Irish operations. 

Speaking at the time, PayPal CEO, Alex Chriss, who took over the top job in September last year, said the company would reduce its global workforce by about 9% this year.

In a letter to staff, Mr Chriss said the decision was made to “right-size” the company through both direct cuts and the elimination of open roles throughout the year.

“PayPal is committed to ensuring that colleagues who leave under the proposed changes are treated fairly,” the company said. 

“It is offering discretionary enhanced redundancy and support packages to help them as they move to the next step in their careers.”

In March of last year, PayPal cut 62 jobs from its Irish operations, with the company also announcing plans to close its Dundalk offices with staff attached to the office continuing to work remotely.

The company, which established itself in Ireland over 20 years ago, added that despite the cuts, it remained “committed to Ireland and its role as a critical hub for the company’s global operations.”

The payments firm joins the running list of tech companies in Ireland to announce layoffs, following fellow industry giants including Indeed, TikTok and Microsoft. 

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