PayPal to cut 85 jobs in Ireland in second round of losses this year

This follows a round of job cuts at the payments company earlier this year.

In February, staff at PayPal were told that 205 jobs were at risk as part of a global reduction.

PayPal informed employees at its Irish operations today that it is looking to cut a further 85 roles.

It currently employs around 1,600 people here.

The company said the proposed job losses are part of its ongoing strategic transformation which was announced earlier this year.

A PayPal spokesperson said that the proposed changes to the Irish workforce are subject to consultation and no redundancies will take place until a consultation process has been completed.

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

The company added that it remains committed to Ireland and its role as a critical hub for the company’s global operations.

In January, PayPal chief executive Alex Chriss told staff that the company would look to reduce its global workforce by around 9pc through direct reductions and open roles over the course of 2024.

“We are doing this to right-size our business, allowing us to move with the speed needed to deliver for our customers and drive profitable growth,” he wrote in a note to employees .

”At the same time, we will continue to invest in areas of the business we believe will create and accelerate growth.”

PayPal closed its Dundalk office last year, with all staff there moving to remote working. It also relocated its Dublin office.

In March 2023, PayPal also announced plans for 62 redundancies.