PayPal’s Global Mass Layoffs Impact 220 Indian Employees
US-based fintech company PayPal has handed the pink slip to about 220 of its employees based out of India as…
PayPal has laid off around 220 employees based in India as part of its global workforce reduction efforts. This represents nearly 4% of the company's India workforce and primarily impacts roles in tech, engineering, operations, payments, and finance across offices in Chennai, Bengaluru, and Hyderabad. The company is undergoing a multi-year transformation to streamline operations, boost execution, and position itself for long-term growth.
The initiative aims to generate at least $1.5 billion in cost savings. Layoffs are being phased in, starting with the Asia-Pacific region, including India, before expanding to the US, Europe, the Middle East, and Africa. The company's CEO, Enrique Lores, explained that PayPal will shift from stabilisation to targeted growth investment to accelerate momentum through next-generation innovations.
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