PayPal Layoffs: Around 600 Jobs Cut in India As Fintech Giant Restructures Global Workforce

PayPal Holdings has laid off around 600 employees across India as the American fintech company restructures its global workforce and seeks to reduce costs, people familiar with the matter told Moneycontrol. The reported job cuts affect teams including technology, engineering, operations, payments and finance across the company's offices in Chennai, Bengaluru and Hyderabad.

PayPal India has a workforce of more than 6,000 employees, making the reported cuts roughly a 10% reduction in its overall headcount in the country, the report said. The layoffs come as PayPal moves ahead with a broader global restructuring plan announced by management earlier this year. Tech Layoffs 2026: Know How Many Affected by Oracle, Apple, Microsoft and Others.

PayPal Layoffs

🚨PayPal lays off around 600 employees in India amid global restructuring

PayPal Holdings has laid off around 600 employees across teams in India, coming at a time when the American fintech giant is restructuring its workforce globally to reduce costs, people familiar with the…

— Chandra R. Srikanth (@chandrarsrikant) September 3, 2026

PayPal Layoffs: Employees Report Sudden Job Cuts

One employee affected by the layoffs said workers received little advance warning before being informed of the cuts on August 31. “We didn’t get any prior notice. We got an invite to join a call on Monday morning (August 31) and there were many employees on it from across offices in India. We were informed that we would be let go. Right after the call, our access was immediately revoked,” one of the impacted employees said.

The employee added, “After that we only got an off-boarding email informing about the further process. We are getting some job assistance and were promised one month’s salary as severance pay. But, we are yet to hear back on that and the full and final settlement.” Oracle Cuts 3,000 Jobs in India While Microsoft Places 500 Staff on PIPs Amid AI Shift.

Another employee said they received a direct email on Monday morning mentioning they were fired. Moneycontrol had sent detailed queries to PayPal over email, which went unanswered at the time of publishing.

Layoffs Reportedly Being Rolled Out In Phases

According to several media reports, PayPal’s layoffs are being carried out in phases, beginning in the Asia-Pacific region, including India. Affected employees in other regions, including the US, Europe, the Middle East and Africa, were also reportedly informed during meetings on Monday.

In Ireland, around 164 employees were reportedly laid off on the same day, representing about 12% of PayPal's workforce in the country. The reported cuts in India therefore form part of a wider workforce restructuring at the company.

PayPal Targets Global Workforce Reduction

The layoffs follow PayPal management's announcement in May that it planned to cut 20% of its global workforce over the next two to three years. The company said the restructuring was part of a plan to deliver at least USD 1.5 billion in gross run-rate savings over the same period.

As of the end of 2025, PayPal had about 23,800 employees globally. A 20% reduction would therefore represent roughly 4,760 roles if applied to that headcount. The company's restructuring comes as large technology and financial-services companies continue to reassess workforce requirements, operating costs and the use of automation and artificial intelligence across business functions.

PayPal’s India Presence

PayPal opened its first development centre in Chennai in 2008. The Chennai facility functions as the company's largest technology centre outside the United States. Its work includes core payment platforms, cloud infrastructure, mobile experiences and distributed computing.

The company later opened a second centre in Bengaluru, which operates as an innovation lab. The Bengaluru team works on technologies including machine learning, artificial intelligence, computer vision and data science. PayPal opened its third technology hub in Hyderabad in 2019. The Hyderabad centre specialises in areas including risk management, fraud prevention and data science, with a focus on supporting small and medium-sized businesses.

India’s GCC Workforce Faces Restructuring

The reported PayPal layoffs come amid a broader period of restructuring across India's global capability centre workforce. Earlier this week, Oracle began another round of job cuts that is estimated to affect nearly 3,000 employees in India.

Ride-hailing company Uber has also started reducing jobs globally, including in India. India's GCC sector experienced a significant wave of restructuring in 2025, resulting in more than 6,000 reported job cuts as global parent companies faced macroeconomic pressures and increasingly focused on AI-led efficiency.

Other Major GCC Job Cuts

Visual effects and animation company Technicolor accounted for one of the largest reported downturns after a shutdown that affected around 3,000 jobs. Automotive technology company AUMOVIO has also been reported to be planning around 1,000 job cuts.

Wells Fargo shut down its Chennai GCC, while Walmart eliminated roles across its Bengaluru and Chennai hubs as part of broader corporate streamlining. The developments highlight the changing nature of India's mature GCC ecosystem, where companies that previously expanded technology and support operations are increasingly reassessing staffing levels, automation and the distribution of work across global locations.

For PayPal employees affected by the latest cuts, the immediate focus is expected to be on severance, final settlements and job assistance.

The reported layoffs also represent a significant change for PayPal's India operations, given the country's importance to the company's technology and innovation network. PayPal has not publicly responded to the detailed queries described in the report at the time of publication. The company's broader restructuring plan is expected to continue over the next two to three years as PayPal works toward its targeted cost savings.

(The above story first appeared on LatestLY on Sep 03, 2026 09:40 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).