Payment services giant PayPal is laying off 70 employees in Israel out of its local workforce of 300. This nearly 25% cut is one of the biggest waves of layoffs that its Israeli center has undergone in recent years.
The Israel layoffs are part of a broad streamlining process that PayPal is carrying out worldwide. In May, it was reported that the company plans to reduce its worldwide workforce by about 20% over the next few years. Based on a workforce of about 23,800 employees at the end of 2025, this amounts to about 4,760 jobs.
According to reports, the plan, led by PayPal CEO Enrique Lores, who assumed office in March, is intended to bring about annual savings of at least $1.5 billion. As part of the move, the company plans to reduce organizational layers, consolidate teams and accelerate the integration of AI tools into work processes.
In recent days, the wave of cuts has begun to materialize at additional PayPal centers. Employees from departments in the US reported on LinkedIn that their jobs had been eliminated as part of a "global reorganization" - this was reported in the US media over the past week. At the same time, the company announced plans to lay off 164 employees in Ireland, which is about 12% of its workforce in the country.
"Not an easy decision"
PayPal's development center in Israel is one of the company's important tech hubs, mainly in the areas of cybersecurity, risk management and fraud prevention. Local teams develop systems based on AI, which analyze transactions in real time and help identify fraud and money laundering.
PayPal's Israeli operations have been built over the years through a series of acquisitions, primarily Fraud Sciences, which was acquired in 2008 for $169 million. The company also acquired Israeli cybersecurity company Curv. Earlier this year, PayPal expanded its presence in Israel by acquiring the online commerce company Cymbio, although it was not disclosed how much the company was acquired for.
PayPal said, "The changes to our workforce are part of a multi-year transformation process that we previously announced, designed to streamline our global operations and place the company on a long-term growth path. Decisions like these are not easy, and we are well aware of the impact they have on our employees. We are committed to standing by them and providing them with our full support during this period of change."
Published by Globes, Israel business news - en.globes.co.il - on September 3, 2026.
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