PayPal confirms 62 Irish job cuts

Fiachra Gallagher

Fintech giant PayPal confirmed on Wednesday that it would cut 62 Irish jobs.

Separately, the firm also said it would close its Dundalk office on March 31st, with employees based in the Co Louth town set to move to remote working.

The decision represents a 3 per cent cut to PayPal's Irish workforce — roughly 2,000 people will continue to work at the firm after the cuts.

The move comes after PayPal said in January that it would cut roughly 7 per cent of its global workforce.

The closure of the Dundalk office will impact third-party contractors at the site, PayPal said.

PayPal said it would continue to "play in active role" in Dundalk's community life.

Changes are also abound in Dublin: PayPal's office in Ballycottin will be sold, with the firm seeking to move operations in the capital to a smaller office space to better suit employee working habits.

In a statement released on Wednesday, Senior Vice President at PayPal Maeve Dorman pointed to changes brought on by the Covid-19 pandemic.

"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.

"Nonetheless, we have maintained our strong community connections and supports in these regions – and will continue to do so," she said.

"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."