PayPal to cut a further 85 jobs in Ireland

PayPal has announced a further 85 redundancies in Ireland after cutting 205 jobs in February.

At present, the financial technology company employs 1,600 people in the country but will reduce its headcount here as part of a strategic to boost productivity.

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

PayPal added that it is committed to ensuring that colleagues who leave under the proposed changes are treated fairly, and the company will offer discretionary enhanced redundancy and support packages to help members of staff who leave the firm.

At the start of the year, PayPal announced global redundancies of 2,500 jobs, or 9% of its entire workforce.

This followed from an announcement the year before of 2,000 jobs being cut, 7% of PayPal’s workforce.

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.

(Pic: Getty Images)