LAST UPDATE | 18 Jun

FINANCIAL TECHNOLOGY COMPANY PayPal has announced plans to cut a further 85 jobs in Ireland.

In a statement today, a PayPal spokesperson said the “proposed changes are subject to consultation” and that “no redundancies will take effect until after a consultation process has concluded”.

The spokesperson added that PayPal “remains committed to Ireland and its role as a critical hub for the company’s global operations” and that the company is “making progress on its strategic transformation announced earlier this year”.

In February, PayPal announced plans to cut 205 jobs – the cuts announced today are in addition to those outlined in February,

The spokesperson today added that PayPal is “committed to ensuring that colleagues who leave under the proposed changes are treated fairly”.

“It is offering discretionary enhanced redundancy and support packages to help them as they move to the next step in their careers,” added the spokesperson.

Reacting to the news, Labour’s Enterprise spokesperson Ged Nash said he has asked PayPal to “explore alternative cost savings short of redundancies”.

“This is the latest stop on the merry-go-round of PayPal’s seemingly endless series of job cuts,” he said.

“I have engaged with PayPal management today and I have appealed to them to explore alternative cost saving measures short of job losses, or at least to minimise the number of redundancies when the month-long statutory consultation process has concluded.”

Nash said he has also asked that the company work with staff to identify possible alternative employment opportunities within the organisation for workers whose positions may be at risk. 

“Every job loss is a tragedy for an individual and a family. Every effort must be made to ensure that the consultation process is a meaningful one and no role should be written off prematurely and before the process is completed.”

Last March, PayPal announced the closure of its Dundalk site, with staff there told to work remotely after that date.

PayPal also said last March that it plans to sell its site in Blanchardstown at the Ballycoolin Business Park and will move to a smaller office in Dublin.