PayPal cuts 4% of its India workforce across Chennai, Bengaluru and Hyderabad
- PayPal lays off around 600 employees in India as part of a global restructuring and cost-cutting drive.
- The cuts affect technology, engineering, operations, payments and finance teams across Chennai, Bengaluru and Hyderabad.
- The layoffs began on August 31, with affected employees reportedly receiving termination calls and losing system access.
- The India cuts come after PayPal announced plans to reduce its global workforce by 20% over the next two to three years.
Source: moneycontrol.com
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