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PayPal says 220 India employees affected in latest restructuring

admin — Thu, 03 Sep 2026 09:52:00 +0000

PayPal has said approximately 220 employees in India were affected by workforce reductions on August 31, representing about 4% of its India employee headcount, disputing reports of substantially higher job cuts in the country. File
| Photo Credit: Reuters

In response to questions from The Hindu, the U.S.-based digital payments company said the reductions were part of its previously announced multi-year transformation programme aimed at simplifying its global operations, strengthening execution and positioning the company for long-term growth.

PayPal said the figure of 220 referred to the headcount reductions made in India on August 31. The company did not provide further details on the functions or locations affected.

The company also disputed media reports that nearly a quarter of its approximately 6,700-strong India workforce was being impacted. “Several media reports have been citing a factually inaccurate number,” a PayPal spokesperson said.

PayPal did not, however, answer questions on whether its latest restructuring has affected personnel working on PayPal projects through third-party service providers.

A former employee, who spoke to The Hindu on condition of anonymity, said they were recently asked to leave after working in Chennai on a PayPal project through a third-party service provider.

The person said that no severance package was provided to them, as the package was applicable only to PayPal’s direct employees.

The person said they had been hired by the vendor specifically to work on a PayPal project and had been given a six-month extension after completing a year. They were subsequently asked to leave, with minimal communication and without seeking consent, the person said.

The entire team of six, comprising both contract and direct employees, was subsequently retrenched, the person said. The team was handling a specific function related to the development of internal tools.

Asked whether the third-party vendor was offering alternative employment opportunities, the person said the company had told them it would inform them if there was a further requirement.

When asked PayPal how many personnel from third-party vendors currently work on PayPal projects in India and how many had been affected by the latest restructuring. It was also asked whether contract workers were included in the 220 figure, whether PayPal’s transformation programme involved reducing its outsourced workforce, and whether PayPal or the vendors were responsible for terminating contractors’ assignments.

The company declined to provide further details.

PayPal was also asked about reports from contract personnel that they did not receive benefits or severance comparable with those available to direct PayPal employees, and what severance, notice period, or transition support was available to contractors whose assignments were terminated. The company did not respond to those questions.

PayPal’s India careers page says its Chennai and Bengaluru technology and operations centres employ specialists across product, technology, analytics and operations, while its wider India operations also include customer service and risk functions.

The latest cuts come after PayPal announced a broader multi-year transformation earlier this year. In its statement, the company said, “Decisions like these are never easy. We recognise the impact they have on our employees and are committed to supporting them through this transition.”

Published – September 03, 2026 03:22 pm IST

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Ola Electric To Lay Off 500 Employees Amid Losses: Report

admin — Fri, 22 Nov 2024 04:41:11 +0000

Ola Electric reported 43% rise in net loss in July-September period from the previous quarter.

New Delhi:

Ola Electric, mired in controversies amid a government probe and mounting losses, is set to lay off at least 500 employees as part of a restructuring exercise.

The Bhavish Aggarwal-led electric vehicle (EV) company is trying to boost its operational efficiency by reducing redundancies and “drive profitability”, according to multiple reports. The restructuring exercise will impact employees from several departments, the reports added.

According to an Inc42 report, citing sources, “the aim is to cut expenses to drive profitability and improve margins. There’s no set time period for the completion of the exercise”.

Ola Electric did not immediately comment on layoffs.

The company reported a 43 per cent increase in net loss at Rs 495 crore in the July-September period (Q2 FY25), from Rs 347 crore in the previous quarter (Q1 FY25).

The electric two-wheeler company also saw its revenue slump 26.1 per cent to Rs 1,214 crore (on-quarter) from Rs 1,644 crore in the first quarter of this fiscal. The net loss, however, narrowed on a year-on-year basis.

In the post-quarterly earnings call, Aggarwal said the company’s operating expenses had decreased quarter-on-quarter and that the company will focus on cost efficiencies.

“As we continue to scale distribution, revenue will keep growing while the operating expenses are likely to remain flat or even decline over the next few quarters,” Aggarwal added.

The company also saw its market share plunge to 33 per cent in Q2, down from 49 per cent in the previous quarter.

According to experts, increased competition and service network challenges have impacted Ola Electric’s market dominance.

The shares of Ola Electric continue to slide, more than Rs 38,000 crore worth of investors’ money has been eroded in the company’s stock in just a couple of months.

On Friday, the company’s share was hovering around Rs 67 apiece, way below its market debut price of Rs 76 and more than 56 per cent down from its all-time high of Rs 157.40.

The market cap had reached an all-time high of around Rs 69,000 crore, which has come down to around Rs 31,000 crore.

Several Ola Electric customers have reported problems with software, battery and jammed tyres. The Central Consumer Protection Authority (CCPA) has also ordered a comprehensive probe into the EV company over its consumer complaint redressal practices.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Google Lays Off Employees, Shifts Some Roles Abroad Amid Cost Cuts

admin — Wed, 17 Apr 2024 19:11:38 +0000

Google is laying off an unspecified number of employees, a company spokesperson said on Wednesday.

California:

Alphabet-owned Google is laying off an unspecified number of employees, a company spokesperson said on Wednesday, marking the latest cuts at the technology giant as it cracks down on costs.

The Google spokesperson said the layoffs are not company-wide and that affected employees will be able to apply for internal roles, but did not specify the number of employees impacted nor the teams involved.

A small percentage of the impacted roles will move to hubs the company is investing in, including India, Chicago, Atlanta and Dublin.

The layoffs follow a slew of job cuts across Google, and the tech and media industry this year, adding to fears that layoffs may continue as companies grapple with economic uncertainty.

“Throughout the second half of 2023 and into 2024, a number of our teams made changes to become more efficient and work better, remove layers and align their resources to their biggest product priorities,” the spokesperson added.

Employees across several of Google’ teams in its real estate and finance departments have been affected, according to a Business Insider report on Wednesday. The finance teams affected include Google’s treasury, business services, and revenue cash operations, it added.

Google’s finance chief, Ruth Porat, sent an email to staff saying the restructuring includes expanding growth to Bangalore, Mexico City, and Dublin, according to the Business Insider report.

Google let go of hundreds of workers across multiple teams in January including its engineering, hardware and assistant teams as the company ramps up investment and builds its artificial intelligence offerings.

Company CEO Sundar Pichai reportedly told employees at the start of the year to expect more job cuts.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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