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PAYPAL IS TO cut 205 jobs among its Irish workforce, marking an 11% reduction of its operations here.
In a statement released today, the financial services company said it’s part of a strategy to reduce its global workforce so that it is positioned for its “next chapter of growth”.
The company said those who may lose their work will be “treated fairly”, with a discretionary enhanced redundancy package on offer to “help them as they move to the next step in their careers”.
The company insisted it “remains committed to Ireland” and will still employ over 1,600 people here after these changes.
These threats to jobs are just the latest in the tech industry in Ireland, which has already seen the likes of Meta, Twitter, Accenture and Stripe all reduce their headcount over the past year.
In its statement today, PayPal said that the the cuts are subject to consultation.
“PayPal today shared the difficult news with our employees in Ireland that we are proposing to reduce our workforce in Ireland by up to 205 jobs,” a spokesperson said.
“These proposed changes are subject to consultation, and no redundancies will take effect until after a consultation process has concluded.”
It added that the changes will allow the company to “move with the speed needed” to deliver for customers and “drive profitable growth”, while allowing it to continue to invest in the business.
Reacting to the announcement, Sinn Féin TD Ruairí Ó Murchú said it’s “disastrous news for workers and their families, particularly at the start of the new year”.
He said he spoke to a PayPal rep today and that it’s expected the 30-day consultation period will start around 7 February, with the redundancies to be completed by 25 March 25.
Ó Murchú further stated that it’s understood that job losses will be split equally between the former Dundalk site workers and those in Dublin.
Last March, PayPal announced the closure of its Dundalk site, with staff there told to work remotely after that date.
PayPal also plans sell its site in Ballycoolin and find a smaller office in Dublin.
Elsewhere, Labour’s enterprise spokesperson Ged Nash said PayPal workers have “restructuring fatigue, having been subjected to a number of rounds of job losses in the last two to three years”.
He called on PayPal to “recognise the human impact of these decisions and engage with staff representatives in a meaningful and constructive manner”.
“If redundancies are to proceed this will be a major blow for Dundalk especially and the entire Louth region,” added Nash.
-With additional reporting from Diarmuid Pepper
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What’s that rushing up towards me, said Rosetta. I shall call it “rocks” it thought happily – I wonder if it will be my friend?
Who is flying it, Mmmmm……it would be too much to hope for, by the way is leaders questions on this morning.
They better be friends. They’ll probably be together for billions of years.
Per second? Wow! That’s fast..
@The Girl:
Approx. 30,000 mph
Sure the Earth is going at 30km per second, and rotating at 1,000mph at the equator.
True, the earth orbits the sun at about 108,000 km/hr. And all without spilling your tea. ☺
Has to be 14km per hour, the speed of a gentle amble
Don’t forget that the Milky Way itself is driving along at 1,300,000 mph. It’s all very interesting really!
@Elma Phudd: so in other words if I walk forwards I am travelling at 1.3m mph + 108k mph + 1000 mph (if at the equator) + whatever speed I am doing :-). Like a fly in a car (doing 90) flies from the back to the front inside the cabin. Is he doing the 90+fly speed or jsut fly speed :-)
It depends which direction you are walking in ;)
You only don’t spill your tea because the brakes have been sabotaged by the illuminati to stop anyone getting off and away from the crazyness.
Whenever life gets you down, Mrs. Brown, And things seem hard or tough, And people are stupid, obnoxious or daft, And you feel that you’ve had quite eno-o-o-o-o-ough, Just remember that you’re standing on a planet that’s evolving And revolving at 900 miles an hour. It’s orbiting at 19 miles a second, so it’s reckoned, The sun that is the source of all our power. Now the sun, and you and me, and all the stars that we can see, Are moving at a million miles a day, In the outer spiral arm, at 40,000 miles an hour, Of a galaxy we call the Milky Way. Our galaxy itself contains a hundred billion stars; It’s a hundred thousand light-years side to side; It bulges in the middle sixteen thousand light-years thick, But out by us it’s just three thousand light-years wide. We’re thirty thousand light-years from Galactic Central Point, We go ’round every two hundred million years; And our galaxy itself is one of millions of billions In this amazing and expanding universe.
A truly incredible and inspirational program from start to finish. What they’ve achieved is astonishing!
Everything that lives is born to die…….even spacecraft!
Lets hope Rosetta’s impact doesn’t nudge the comet off its trajectory and send it spiraling towards earth.
It’s going the wrong direction and there’s not going to be much force from the landing! The momentum of the comet probably won’t be affected by the satellite crashing into it.
bags summa dat metal dere boss
Were any of the scientists wearing sexist clothing during the announcement? Because that’s what really matters here.
All that technology and it took them ages to find Osama Bin Laden.
Why crash it though? Why not just let it drift off into the abyss?
Litter bug!
@OU812: They hope to obtain useful data from the crash landing. They’d get none if they let it drift.
And it was on its last legs….
This way they know where it is: drifting it’d be a hazard to the next one up?
Fantastic and another European victory in the friendly space race between the USA and Europe/Russia…hopefully much more can be invested in Space exploration.
Rosette are you better, are you well well well
We should all be glad that we managed to land on a comet before one landed on us.
have your say