Internal restructuring
Location of affected unit(s)
Ireland, other locations
Information / Communication
Computer Programming, Consultancy And Related Activities
Computer Programming, Consultancy And Related Activities
62.09 - Other Information Technology And Computer Service Activities

2,500 jobs
Number of planned job losses
Job loss
Announcement Date
30 January 2024
Employment effect (start)
30 January 2024
Foreseen end date


The US online payments company Paypal has announced a restructuring programme which will reduce its workforce by 9%, cutting 2,500 jobs worldwide in 2024.

So far, the company announced a restructuring programme in Ireland where 205 jobs are expected to be cut. The conditions of the programme will be negotiated with employee representatives according to local regulations. PayPal said it would offer discretionary enhanced redundancy and support packages to departing staff.

President and CEO Alex Chriss emphasised the need to “right-size” PayPal, allowing the company to move swiftly to deliver for its customers and drive profitable growth. The company aims to achieve this by deploying automation, consolidating technology, and enhancing efficiency.

Previous restructuring events have been recorded in the ERM database for Paypal. In [2023], 2,000 job cuts were announced globally (https://apps.eurofound.europa.eu/restructuring-events/detail/108357). In 2022, 307 job cuts were announced in Ireland [Paypal-2022-IE] (https://apps.eurofound.europa.eu/restructuring-events/detail/106848), and in 2021, due to offshoring, 131 job cuts were announced in Ireland [Paypal-2021-IE] (https://apps.eurofound.europa.eu/restructuring-events/detail/104726).



Eurofound (2024), Paypal, Internal restructuring in World, factsheet number 200783, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200783.