PayPal cuts India jobs as global restructuring targets 20% of workforce

  • PayPal cut jobs across its India operations during a global restructuring.
  • People familiar with the matter cited 600 cuts; PayPal said approximately 220 employees were affected.
  • The May program targets a 20% workforce reduction and at least $1.5 billion in savings.

PayPal has begun cutting jobs across its India operations as part of a global transformation program announced in May that aims to reduce the workforce by 20% over two to three years and deliver at least $1.5 billion in gross run-rate savings. People familiar with the matter said about 600 employees, or roughly 10% of PayPal's India workforce, were affected on August 31, while the company put the figure at approximately 220, or about 4%. The reductions span technology, engineering, operations, payments and finance roles in Chennai, Bengaluru and Hyderabad. PayPal's India centers support global work in artificial intelligence, machine learning, fraud prevention, risk management and data science. Cuts were also communicated in other regions, including about 164 employees in Ireland, representing roughly 12% of the company's workforce there.

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