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PayPal Cuts Israel Workforce as Restructuring Targets $1.5B Savings

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Sig4.20Sen-4.70Env0.00Soc-5.30Gov-0.80

PayPal is laying off 70 employees in Israel from a local workforce of 300 as part of a restructuring led by CEO Enrique Lores. The cuts affect the Tel Aviv development center focused on real-time transaction analysis and fraud detection. The broader plan targets 4,500 jobs across several sites and aims to save about $1.5 billion, alongside a closure of its 10-year-old venture team.

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