HCM & HRIS

PayPal cuts 220 India jobs as part of previously announced restructuring plan, source says

September 4, 2026
www.ETHRWorld.com
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  • Published On Sep 4, 2026 at 07:53 AM IST

The firm has outlined extensive ​cost-saving measures this year under newly appointed CEO, Enrique Lores, as it seeks to sharpen its competitive position in the crowded ​payments market. />Sept 3 – PayPal has cut roughly 220 jobs in ​India as part of the ​payments firm’s broader, multi-year turnaround plan laid out ​earlier this year, a person familiar with the matter told Reuters on Thursday.<br><br><!– PROMOSLOT_M –>Here are some more details:<br><br>” an=”” and=”” announced=”” are=”” captionrendered=”1″ changes=”” company=”” data-src=”https://etimg.etb2bimg.com/photo/133745477.cms” emailed=”” execution=”” for=”” global=”” growth=”” height=”442″ in=”” loading=”eager” long-term=”” of=”” operations=”” our=”” part=”” paypal=”” position=”” previously=”” recent=”” said=”” spokesperson=”” src=”https://hr.economictimes.indiatimes.com/images/default.jpg” staffing=”” statement.=”” strengthen=”” the=”” transformation=”” width=”590″></img></p> <p>The firm has outlined extensive ​cost-saving measures this year under newly appointed CEO, Enrique Lores, as it seeks to sharpen its competitive position in the crowded ​payments market.</p> <p>PayPal has set a target ⁠of achieving $400 ‌million in cost savings by year-end and at ​least $1.5 billion ​over the next two to three years.</p> <p>Among the ⁠initiatives are plans to reduce organizational layers, improve ​productivity and integrate AI and automation across the ​business.</p> <p>It joins a growing list of U.S. companies that have announced job cuts this year.</p> <p>The rise of fintech rivals and big-tech players such as Apple and Google in payments has chipped away at PayPal’s market share in recent years, weighing ‌on its stock. The company’s shares are down roughly 82% from its 2021 record high.</p> <p>In its latest ​earnings report, ​PayPal raised its ⁠full-year profit forecast after quarterly results topped Wall Street expectations.</p> <p>The firm has outlined extensive ​cost-saving measures this year under newly appointed CEO, Enrique Lores, as it seeks to sharpen its competitive position in the crowded ​payments market..</p> <p>​Reuters reported in July, citing sources, that a consortium including payments company Stripe and private equity firm Advent had made a $53 billion offer to buy PayPal.</p> <p>The suitors are no longer pursuing the deal, according to media reports in late August.</p> <p>(Reporting by Manya Saini in Bengaluru; Editing by Maju Samuel) </p> <div> <div> <ul> <li><a href=Reuters

  • Published On Sep 4, 2026 at 07:53 AM IST

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