PayPal Holdings has reportedly laid off hundreds of employees across multiple teams in India as the American fintech giant restructures its global workforce to reduce costs, people familiar with the matter said.
The job cuts have affected teams across technology, engineering, operations, payments, and finance, among other functions, at PayPal’s offices in Chennai, Bengaluru, and Hyderabad, according to multiple sources.
PayPal India employs more than 6,000 people, which means the reported layoffs could represent a significant reduction in its overall workforce.
However, a PayPal spokesperson, responding to queries on Thursday, said the company reduced its India headcount by approximately 220 employees on August 31. “This is a 4 percent reduction of our India employee headcount,” the spokesperson said.
“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 us 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.”
Meanwhile, another employee said they received a direct email on Monday morning informing them that the company had terminated their employment.
The PayPal spokesperson stated, “The recent 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. Decisions like these are never easy. We recognize the impact they have on our employees and are committed to supporting them through this transition.”
According to several media reports, PayPal has been carrying out the layoffs in phases. The process reportedly began in the Asia-Pacific region, including India, before the company held meetings with affected employees across the US, Europe, the Middle East, and Africa on Monday.
In Ireland, PayPal reportedly laid off around 164 employees on the same day, affecting approximately 12 percent of its workforce in the country.
The latest job cuts follow the company’s management announcement in May 2026, when PayPal revealed plans to reduce its global workforce by 20 percent over the next two to three years. Through the restructuring initiative, the company aims to generate at least $1.5 billion in gross run-rate savings during the same period.
As of the end of 2025, PayPal employed around 23,800 people globally. Therefore, a 20 percent workforce reduction could potentially impact approximately 4,760 roles.
PayPal opened its first development centre in Chennai in 2008. The centre serves as the company’s largest technology hub outside the United States and focuses on core payment platforms, cloud infrastructure, mobile experiences, and distributed computing.
The company later opened its second centre in Bengaluru, which operates as an innovation lab and works on advanced technologies, including machine learning, artificial intelligence, computer vision, and data science.
In addition, PayPal opened its third technology hub in Hyderabad in 2019. The facility focuses on risk management, fraud prevention, and data science to support small and medium-sized businesses.
PayPal’s layoffs have also added to concerns surrounding India’s distressed GCC workforce. Earlier this week, Oracle reportedly started another round of job cuts that could impact nearly 3,000 employees in India.
India’s GCC sector witnessed a significant wave of restructuring in 2025, with global parent companies cutting more than 6,000 jobs. Companies have increasingly responded to macroeconomic pressures and accelerated their shift towards AI-led efficiency instead of traditional headcount-driven growth.
