PayPal says 220 India employees affected in latest restructuring
PayPal said the cuts were part of a broader transformation plan and disputed reports that nearly a quarter of its India workforce was affected.
- On August 31, PayPal reduced its India workforce by approximately 220 employees, representing about 4% of its headcount. The company disputed media reports claiming substantially higher job cuts.
- These reductions align with a multi-year transformation strategy PayPal announced earlier this year to simplify global operations and strengthen execution for long-term growth.
- A former employee told The Hindu they were recently asked to leave a Chennai project without severance or notice. A team of six, including contract and direct staff, was retrenched.
- PayPal declined to provide details on functions or locations affected by the restructuring. The company also did not respond to questions about third-party vendor impacts or severance differences.
- India operations in Bengaluru and Chennai employ specialists across product, technology, and operations, while also housing customer service and risk functions. The centers support PayPal's global infrastructure.
26 Articles
26 Articles
PayPal cuts 220 India jobs as part of previously announced restructuring plan, source says
PayPal has cut around 220 jobs in India as part of a broader, multi-year transformation aimed at simplifying operations and reducing costs. The payments company, led by CEO Enrique Lores, is targeting $400 million in savings this year and at least $1.5 billion over two to three years amid intensifying competition.
PayPal has laid off approximately 10 percent of its workforce in India, or about 600 employees. The move is part of the company's global restructuring plan, which includes job cuts worldwide. The affected employees were dismissed without prior notice, which has left them dissatisfied.
PayPal Layoffs: Around 600 Jobs Cut in India As Fintech Giant Restructures Global Workforce
PayPal has reportedly laid off around 600 employees across India as the fintech company restructures its global workforce to reduce costs. The cuts affect technology, engineering, operations, payments and finance teams in Chennai, Bengaluru and Hyderabad. The reduction represents roughly 10% of PayPal India’s workforce and follows plans to cut 20% globally. PayPal Layoffs: Around 600 Jobs Cut in India As Fintech Giant Restructures Global Workfor…
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