PayPal to cut a further 85 Irish-based jobs

Payments company PayPal has announced plans to cut a further 85 Irish-based jobs.

This follows an announcement of 205 redundancies in February.

The company currently employs around 1,600 people in Ireland.

PayPal today told its Irish-based employees that it is proposing to reduce its workforce in Ireland by up to 85 roles.

The company said the move is part of a strategic transformation plan which was announced earlier this year to help it become a more productive company that is focused on its key priorities.

“The proposed changes are subject to consultation, and no redundancies will take effect until after a consultation process has concluded,” a PayPal spokesperson said.

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

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

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 of this year, PayPal announced plans to cut around 2,500 jobs globally, or 9% of its workforce.

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