The payments group has reduced staff at its international offices as part of a previously announced transformation plan.
PayPal (NASDAQ: PYPL) has cut jobs in India and Ireland as part of a multi-year restructuring working through the payments group's international offices.
A source familiar with the matter told Investing.com that approximately 220 jobs were cut in India, alongside 160 cuts in Ireland. In Ireland, the redundancies are said to amount to almost 12% of PayPal's 1,380-strong full-time workforce in the country.
Earlier this week, it was reported that Sinn Féin TD Ruairí Ó Murchú was informed of the cuts by the company. He said 164 positions would go across all levels of the business, with redundancies proposed to take place between Oct. 7 and 21. The Department of Enterprise confirmed it received notice of proposed collective redundancies from PayPal Europe Services Ltd. on Aug. 28.
The proposed staffing changes are part of our previously announced multi-year transformation to simplify our global operations, strengthen execution, and position the company for long-term growth.
The spokesperson added: "Decisions like these are never easy. We recognize the impact they have on our employees and are committed to supporting them through this transition." Rumors regarding the cuts first circulated on workplace platforms such as Blind.
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