PayPal Lays Off 25 Percent of Israel Workforce

PayPal is laying off 70 employees in Israel, reducing its local workforce of 300 by nearly 25 percent. These cuts are part of a broader global streamlining process led by CEO Enrique Lores to reduce the company's worldwide headcount by approximately 20 percent over several years. The initiative aims to achieve annual savings of at least $1.5 billion.

The reorganization involves consolidating teams, reducing organizational layers, and accelerating the integration of AI tools. Similar reductions are occurring in Ireland, where the company plans to cut 164 employees, or about 12 percent of its local staff, with additional layoffs reported in the United States.

PayPal's Israeli hub specializes in risk management, fraud prevention, and cybersecurity, having expanded through the acquisitions of Cymbio, Curv, and Fraud Sciences. The company stated that these workforce changes are part of a multi-year transformation process designed to streamline global operations and establish a long-term growth path.