PayPal lays off dozens in Israel as it cuts 20% of global workforce
The Israeli cuts are part of a worldwide restructuring launched under new CEO Enrique Lores. PayPal plans to eliminate about 4,760 jobs over two to three years as it seeks to simplify operations and save $1.5 billion annually.
Payment giant PayPal is laying off dozens of employees in Israel as part of a global wave of job cuts launched this week under a multiyear efficiency plan by new CEO Enrique Lores.
Employees were first called in for talks in the Asia-Pacific region, followed by Europe and the Middle East. In Ireland, PayPal plans to lay off 164 employees, or about 12% of its workforce in the country.
The global restructuring was announced under Lores, who took over as PayPal’s CEO in March 2026 after serving as CEO of HP. Under the plan, PayPal expects to cut about 20% of its global workforce over the next two to three years, or roughly 4,760 jobs out of 23,800. The company aims to save about $1.5 billion annually through the changes.
PayPal’s Israeli operation currently employs about 200 to 250 people, most of them data scientists and software engineers. They work on security systems as well as core components of the company’s user experience and mobile applications.
PayPal’s development center in Tel Aviv is one of the company’s key technological and strategic hubs, particularly in cybersecurity and risk management. The Israeli operation was built largely through strategic acquisitions of local startups, led by Fraud Sciences, which PayPal acquired in 2008 for about $169 million.
Today, the center develops artificial intelligence systems and machine-learning algorithms used to analyze billions of transactions in real time, identify fraud and prevent money laundering around the world.
PayPal said the workforce changes are part of the multiyear efficiency plan it previously announced, which is designed to simplify its global operations and strengthen the company’s performance.
"Decisions of this kind are not easy, and we are well aware of their impact on our employees," the company said. "We are committed to standing by them and providing them with full support during this period of change."
The layoffs come after PayPal was recently in the news over reports that a potential $53 billion acquisition by a consortium involving payment giant Stripe and private equity firm Advent International had fallen through.
