The global 20% workforce reduction plan accelerates! PayPal (PYPL.US) lays off 600 employees in India, affecting multiple departments including technology, engineering, and payments.

According to reports, to continue promoting global business restructuring and reduce operating costs, PayPal (PYPL.US) has laid off approximately 600 employees in India, accounting for about 10% of its local workforce. Multiple sources revealed that the layoffs affect several departments in PayPal's major research and development centers located in Chennai, Bangalore, and Hyderabad, covering functions such as technology, engineering, operations, payments, and finance. Reports indicate that layoff notices began to be communicated to affected employees on August 31, and upon receiving the termination call, their internal system access was immediately revoked. The laid-off employees will receive one month's salary as severance pay and assistance with job placement; however, some employees have reported that they have yet to receive specific details regarding their final settlement. This round of layoffs in India is part of PayPal's global reduction plan announced in May 2026. According to this plan, the company's management aims to reduce the global workforce by 20% over the next two to three years, targeting an annual total cost savings of at least $1.5 billion, which is expected to affect nearly 4,760 positions out of approximately 23,800 globally. PayPal's centers in India play a crucial role in its global business layout, primarily supporting areas such as artificial intelligence (AI), machine learning, fraud protection, and data science infrastructure. This wave of layoffs coincides with global technology and fintech companies reinforcing cost control measures and accelerating efforts to enhance operational efficiency driven by AI. Reports indicate that PayPal's workforce reduction initiative aligns with recent restructuring trends implemented by several multinational tech companies in India.