PayPal is the latest tech firm to cut staff numbers.
The company's confirmed it is to reduce its headcount in Ireland by 62; with roles in Dublin and Dundalk impacted.
The payments company is also reducing its office footprint, as the majority of 2,000 staff are now working from home.
Statement
In a statement the company says: "At the end of January, PayPal’s President and CEO Dan Schulman announced a reduction of PayPal’s global workforce by approximately 2,000 full time employees, or about 7% of its total workforce. Today, PayPal notified its employees that it is proposing to cut its workforce in Ireland by 62 - about 3% of the total workforce here.
"PayPal is proposing a reduction of 35 roles in Dublin and 27 roles in Dundalk.
"PayPal starts formal consultation about the proposed job cuts when the employee representatives have been elected. No redundancies will take effect until after the consultation process has concluded. PayPal is committed to ensuring that colleagues who leave under the proposed changes are treated fairly and generously.
"PayPal is committed to Ireland and will continue to employ approximately 2,000 people in the country after these changes.
"Like many companies, PayPal has seen a dramatic change in working arrangements since the start of the pandemic. Employees in Ireland as elsewhere have embraced the opportunity to work from home, and the company has seen consistently small numbers of staff travelling to work in its offices in Dublin and Dundalk.
"As a result, and following a review of its global office needs, PayPal today told its employees in Ireland about the following changes:
"PayPal is planning to find a smaller office in Dublin that better meets the needs of its workforce, which have changed significantly since PayPal opened its Ballycoolin office in 2008. As a result, it plans to sell its Ballycoolin site to facilitate the move.
"PayPal’s employees in Dundalk will now work remotely, reflecting the change that many employees have already made. As a result, PayPal will close its Dundalk site on 31 March. There is a small number of contract workers, who are employed by third parties to manage facilities on site, impacted by today's announcement. Those third parties will be able to provide more specific information, as some of these workers may be redeployed."
Footfall
Maeve Dorman, Senior Vice President at PayPal, says: "Ways of working at PayPal, as at many other companies, have completely transformed over the last three years. Employees, including myself, have really embraced the flexibility of our new working models and the increased opportunity to work from home.
"As a result, employee footfall at our offices at Dublin and Dundalk has remained consistently low.
"From the outset of this virtual working reality, our focus has been to ensure our employees remain connected and engaged in meaningful ways – and this will remain a priority for us as we move forward. Our goal will continue to be to create better, more collaborative, and relevant opportunities for our workforce."
