PayPal has laid off approximately 220 employees in India — the company continues its global restructuring

PayPal has begun cutting jobs in India as part of the payments company's multi-year restructuring effort. The changes affect the company's international offices and, according to reports, are also expected to result in the layoff of about 160 employees in Ireland.

A source close to the matter told Investing.com that approximately 220 jobs have been eliminated in India.

The planned cuts in Ireland will affect roughly 12% of PayPal's 1,380 full-time employees in the country.

Ruairí Ó Murchú, a member of the Irish parliament from Sinn Féin, whom the company contacted directly regarding the layoffs, said that a total of 164 positions across various levels of the business will be eliminated. Under the current plan, the layoffs will take place between October 7 and 21.

Ireland's Department of Enterprise confirmed that it received an official notice on August 28 from PayPal Europe Services Ltd. regarding the planned collective layoffs.

PayPal: The changes are part of the company's long-term transformation

Regarding the job cuts, a PayPal representative said the planned changes are part of the multi-year transformation program the company announced earlier.

"The proposed staffing changes are part of our previously announced multi-year transformation, which aims to simplify our global operations, strengthen performance efficiency, and position the company for long-term growth," the PayPal representative said.

According to the representative, decisions like this are never easy.

"We recognize the impact these changes have on our employees and are prepared to support them through the transition period," the company representative noted.

News of PayPal's job cuts first spread on online platforms for employees, including Blind.

The restructuring initiated by the company is part of a broader review of PayPal's global operations, aimed at simplifying its cost structure, improving operational efficiency, and preparing the company for long-term growth.