Continuing with its previously announced “strategic transformation”, PayPal, the global payment platform, is planning to eliminate an additional 85 positions from its operation in Ireland. Currently employing approximately 1,600 individuals within the country, PayPal asserts the layoffs are part of its efforts to transform into an entity that is more efficient and centred around its primary business objectives.
Today, a company spokesperson communicated this projected job cut plan to its Irish staff members, subject to consultation. No distinct jobs will be terminated until the conclusion of this consultation process.
The spokesperson stated that PayPal is determined to deal with the employees who may depart due to these anticipated changes in a fair manner, stating the company will offer voluntary enhanced severance packages and career support to assist them with their transition.
PayPal reassured that its commitment towards Ireland remains unchanged, serving as an essential centre for the firm’s worldwide operations. This cutbacks follows the axing of 205 Irish workforce members in February, as part of its global strategy to “optimize” the business.
This subsequent wave of job cuts poses another setback to PayPal’s workforce in Ireland, following a 7% global workforce reduction in 2023. The company had laid off employees from Dublin and Co Louth earlier that year, also closing its Dundalk office under its austerity measures.
With low office attendance persisting post-pandemic, PayPal plans to sell its Ballycoolin offices, opting for a smaller location that can house the staff from both Dublin and Dundalk.