PayPal is cutting 251 senior and engineering roles at its San Jose headquarters. The layoffs for these high-earning positions take effect on October 30, 2026.
This initiative belongs to a multi-year restructuring plan targeting $1.5 billion in savings. The company intends to reduce its global workforce by 20% overall. Management is streamlining operations to pivot toward AI and automation investments.
PayPal faces mounting pressure from established tech giants and emerging fintech competitors. These cuts follow a separate reduction of more than 200 positions in India.