PayPal to cut 251 jobs at San Jose headquarters as part of broader restructuring

PayPal is set to lay off 251 employees at its San Jose headquarters, impacting senior employees, managers, and engineers. This move is part of a larger restructuring plan aimed at reducing costs and eliminating approximately 20% of its global workforce. The affected employees are expected to lose their jobs on October 30, 2026, according to a Worker Adjustment and Retraining Notification (WARN) filing. The company's cost-cutting efforts are projected to generate about $1.5 billion in savings over two to three years.