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Irish Mirror

National

Gordon Deegan

Irish arm of PayPal recorded over €54m profit in 2021 but still cut over 300 jobs

PayPal Dublin Dundalk

The main Irish unit of online payments firm PayPal last year recorded more than a four fold increase in pre-tax profits to €54.57m.

The 333% increase in pre-tax profits at Paypal Europe Services Ltd last year came ahead of a Paypal decision during the first quarter of this year to cut its Irish workforce in Dublin and Dundalk.

A note attached to the new accounts filed by the Blanchardstown registered firm show that the associated restructuring charges from this year's job losses “are estimated to be in a range of €13m to €16m”.

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