Global plan to reduce staff by 20% is being accelerated! PayPal (PYPL.US) lays off 600 employees in India, affecting various departments such as technology, engineering and payment

The Zhitong Finance App learned that, according to reports, in order to continue to promote global business restructuring and reduce operating costs, PayPal (PYPL.US) has laid off about 600 employees in India, accounting for about 10% of its total number of local employees.

Multiple sources revealed that the layoffs involved various departments located in major PayPal R&D centers such as Chennai, Bengaluru, and Hyderabad, covering functional areas such as technology, engineering, operations, payment and finance.

According to the report, the relevant layoff notices began to be communicated to affected employees one after another on August 31. After the employees received the dismissal call, their internal system rights were immediately revoked. The laid-off employees can receive one month's salary as severance pay and help with job placement, but some employees also said that they have not yet received specific details of the final separation settlement.

This layoff in India is part of a global downsizing plan announced by PayPal in May 2026. According to the plan, the company's management plans to reduce the global workforce by 20% over the next two to three years, with the goal of achieving total annual cost savings of at least US$1.5 billion. This move is expected to affect nearly 4,760 of its approximately 23,800 jobs worldwide.

PayPal's various centers in India occupy an important position in its global business layout, mainly supporting fields such as artificial intelligence (AI), machine learning, fraud prevention, and data science infrastructure.

This layoff comes at a time when global technology and fintech companies are strengthening cost control and accelerating AI-driven operational efficiency improvements. The report pointed out that PayPal's staff reduction measures are in line with the recent trend of restructuring plans implemented by many multinational technology companies in India.