Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Global payments company Pay Pal is to cut up to 205 jobs from its Irish workforce, as part of a worldwide restructuring process (PayPal 2024 - WO).
The company currently employs about 1,800 people in Ireland and this will be reduced to approximately 1,600 after the cuts. The staff impacted have been informed and a period of consultation has begun. The Department of Trade, Enterprise and Employment has also been notified. PayPal said it would offer discretionary enhanced redundancy and support packages to departing staff.
Paypal has been cutting jobs in Ireland in recent years in 2022, as part of a previous worldwide restructuring programme in 2023, and in 2021.
UPDATE, 18/06/2024
It has been announced that PayPal will cut a further 85 jobs in Ireland. As a result, the company will cut its employment in Ireland by up to 290 jobs as opposed to the original 205 planned cuts.
Eurofound (2024), PayPal, Internal restructuring in Ireland, factsheet number 200776, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/200776.
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