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

According to Jinse Finance APP, reports indicate that to continue advancing 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.

Several sources revealed that the layoffs affect multiple departments at PayPal’s main R&D centers in Chennai, Bangalore, and Hyderabad, covering roles in technology, engineering, operations, payments, and finance.

Reports state that layoff notifications began to be communicated to affected employees on August 31. After receiving the termination call, internal system access was immediately revoked. Employees who were laid off will receive one month’s salary as severance pay and employment placement assistance. However, some employees noted that they have not yet received specific details of the final settlement upon departure.

This round of layoffs in India is part of the global downsizing plan PayPal announced in May 2026. Under this plan, company management aims to reduce the global workforce by 20% over the next two to three years, targeting at least $1.5 billion in annual total cost savings. This move is expected to affect nearly 4,760 of its approximately 23,800 global positions.

PayPal’s centers in India hold an important place in its global business structure, primarily supporting fields such as artificial intelligence (AI), machine learning, fraud prevention, and data science infrastructure.

The layoffs come at a time when global technology and fintech companies are strengthening cost controls and accelerating the improvement of operational efficiency driven by AI. The report points out that PayPal’s staff reduction measures align with the recent trend of restructuring plans carried out by several multinational tech firms in India.