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PayPal to cut around 2,500 jobs globally – report

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Payments firm PayPal will cut around 2,500 jobs globally this year, Bloomberg News reported on Tuesday citing a letter from CEO Alex Chriss to staff that it reviewed.

In the letter, 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, according to the report.

PayPal employs around 2,000 people in Ireland.

Asked what impact the cuts will have on its Irish-based workforce, a company spokesperson said it will communicate any changes impacting individual countries by the end of this week.

In March 2023, PayPal announced 62 redundancies in Dundalk and Dublin, and the closure of its Dundalk office.

Remaining staff in Dundalk were to move to remote working.

At the time of last year’s announcement, the company said it would sell its site in Ballycoolin in Dublin and move to a smaller, more central location in Dublin.

In January 2023, PayPal announced 2,000 job cuts globally which was around 7% of its total workforce.

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