PayPal India Layoffs: 600 Jobs Reported, Company Says 220 Affected

PayPal has cut jobs across its India operations as part of a wider global restructuring, with people familiar with the matter reporting that around 600 employees were affected.

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PayPal, however, has put the number at approximately 220 employees, or about 4% of its India workforce.

The job cuts were carried out on August 31 and affected employees across technology, engineering, operations, payments and finance functions, according to multiple reports.

PayPal’s India operations in Chennai, Bengaluru and Hyderabad have been affected.

PayPal Gives Lower Figure

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Moneycontrol, which first reported the layoffs, cited people familiar with the matter who estimated that around 600 employees had lost their jobs. With PayPal employing more than 6,000 people in India, that figure would amount to roughly 10% of its India workforce.

However, a PayPal spokesperson said that approximately 220 employees were affected by the August 31 headcount reduction. The company said this represented around 4% of its India employee base.

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The difference between the two figures has also been reported by other publications. For accuracy, the higher figure should therefore be described as a figure reported by sources, rather than as the company-confirmed number.

• Around 600 job cuts were reported by people familiar with the matter.
• PayPal said approximately 220 employees were affected.
• Technology, engineering, operations, payments and finance teams were among those affected.
• Chennai, Bengaluru and Hyderabad are the reported locations impacted.

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Employees Report Little Prior Notice

Some affected employees told media that they were informed about the job cuts through calls or emails on August 31.

One employee said workers from different India offices were brought into a morning call and informed about the decision, after which access to company systems was revoked.

Reports also said affected employees were given information about the off-boarding process and job-search assistance. Details of severance and final settlements may differ between employees, so these should not be treated as uniform terms.

Part of PayPal’s Global Restructuring

PayPal said the India workforce changes are part of a previously announced multi-year plan to simplify its global operations and improve execution.

The company had earlier announced plans to reduce its global workforce by 20% over two to three years, with the move expected to generate at least $1.5 billion in gross run-rate savings.

The India layoffs come as PayPal reviews its workforce and operating costs across markets.

For employees and employers in India’s technology sector, the development adds to the recent series of workforce reductions announced by large global technology and business services companies.