There are fears for around 160 jobs at the Irish operation of payments firm PayPal.<\/p>\n
Sinn F\u00e9in TD Ruair\u00ed \u00d3 Murch\u00fa said he has received confirmation from the company that it is planning to cut 164 roles which is almost 12% of its Irish workforce.<\/p>\n
“This is devastating for the workers involved and their families, many of whom have given years of sterling service to PayPal,” Mr \u00d3 Murch\u00fa said.<\/p>\n
“The process of the nomination of employee representatives will begin shortly and there will be a period of negotiation and consultation with workers, with redundancies proposed to be taking place between 7 and 21 October,” he added.<\/p>\n
A spokesperson for PayPal would not comment on the number of jobs at risk.<\/p>\n
“The proposed staffing changes are part of our previously announced multi-year transformation to simplify our global operations, strengthen execution, and position the company for long-term growth,” they said.<\/p>\n
“Decisions like these are never easy. We recognise the impact they have on our employees and are committed to supporting them through this transition,” the company added.<\/p>\n
The Department of Enterprise said it received a collective redundancy notification from PayPal on 28 August.<\/p>\n
In April, the company informed the Government of a previous round of proposed redundancies.<\/p>\n
In 2024, PayPal cut 290 jobs at its Irish operation.<\/p>\n
In March 2023, the company announced 62 redundancies in Dundalk and Dublin, and the closure of its Dundalk office.<\/p>\n
Remaining staff in Dundalk were moved to remote working.<\/p>\n
Last week ,it was reported that a consortium of payments company Stripe and buyout firm Advent had decided to abandon a plan to buy PayPal.<\/p>\n
It was previously reported that PayPal’s board saw the takeover bid as inadequate and said it faced regulatory and financing hurdles.<\/p>\n","protected":false},"excerpt":{"rendered":"There are fears for around 160 jobs at the Irish operation of payments firm PayPal. Sinn F\u00e9in TD…\n","protected":false},"author":2,"featured_media":610544,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,61,60],"class_list":["post-610543","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/610543","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=610543"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/610543\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/610544"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=610543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=610543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=610543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}