The company is cutting roughly 3pc of its Irish staff and is also looking for a smaller Dublin office to ‘better meet the needs of its workforce’.
PayPal is cutting 62 jobs in Ireland, while it plans to sell offices in Dublin and Dundalk due to increased levels of remote working.
The company’s current proposal will see 35 jobs cut in Dublin, with the remaining 27 cut in Dundalk. The total number represents roughly 3pc of its total workforce in Ireland.
PayPal said it will start formal consultation about the proposed job cuts when the employee representatives have been elected. The company said it will still employ roughly 2,000 people nationwide after these cuts occur.
The job losses are part of the company’s plans to reduce its global workforce by 2,000, or roughly 7pc of total staff.
The company’s president and CEO Dan Schulman made the announcement in January and said the decision was response to the “challenging macro-economic environment”, as the fintech works to reshape itself.
Meanwhile, the company plans to fully close its Dundalk office on 31 March, with the remaining staff moving to remote working once the closure takes place.
PayPal said this office closure will impact a small number of contract workers, who are employed by third parties to manage facilities on site.
The fintech also plans to close its current Dublin office in Ballycoolin in order to find a smaller office that “better meets the needs of its workforce”. SiliconRepublic.com understands that this decision is due to the decline in staff numbers working within the office.
PayPal senior VP Maeve Dorman said many workers have “embraced the flexibility of our new working models and the increased opportunity to work from home”.
“As a result, employee footfall at our offices at Dublin and Dundalk has remained consistently low,” Dorman said. “From the outset of this virtual working reality, our focus has been to ensure our employees remain connected and engaged in meaningful ways – and this will remain a priority for us as we move forward.”
This is not the first time PayPal’s staff in Ireland have faced a hit to their numbers. Last May, the company announced plans to cut around 300 jobs from its operations in Dundalk and Dublin.
In April 2021, the payment company shared plans to relocate up to 131 roles in Ireland to other countries following a review of its operational needs. PayPal employed around 2,800 workers at its Irish sites at the time.
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