Over 200 Irish jobs in PayPal are at risk, as the finance company have reportedly proposed that they’re set to cut jobs.
The company announced on January 31 that they were set to cut 9% of their global workforce, approximately 2,500 jobs, with 205 of those jobs set to be cut in Ireland.
Over 1,800 people are employed by PayPal in Ireland, with staff nationwide being informed of the decision on February 1. A consultation process will now take place.
A letter from PayPal Chief Executive Alex Chriss, who took over the company in September, told its employees that they are ‘right sizing’ the company through the cuts and eliminating open roles throughout the year.
The letter said that this would allow PayPal to ‘move with the speed needed to deliver for our customers and drive profitable growth,’ and ‘at the same time, we will continue to invest in areas of the business we believe will create and accelerate growth.’
The company announced last year that they were closing their office in Dundalk alongside the loss of 62 jobs in Dundalk and Dublin, with the office in Dublin moving to a smaller location in Dublin City Centre.
There have been a number of cuts in the tech sector over the past 12 months, including Facebook’s parent company Meta — which has cut over 22,000 jobs on their global workforce over four months, the latest of which occurred last March.
PayPal had previously announced last year that they were cutting over 2,000 jobs worldwide — approximately 7% of its workforce at the time.