PayPal has said it is planning to cut 7 per cent of its global workforce, or about 2,000 employees, the latest in a list of fintech firms to be hit by the economic slowdown.
The payments firm also joins other big tech companies they look to rein in costs to ride out the downturn.
PayPal's move to keep a tight lid on costs comes against the backdrop of decades-high inflation hitting the purchasing power of consumers who also have to contend with the threat of a looming recession.
"While we have made substantial progress in right-sizing our cost structure, and focused our resources on our core strategic priorities, we have more work to do," said PayPal's chief executive Dan Schulman in a statement.
The company employs more than 2,000 people in Ireland. If cuts were carried out proportionally, that would equate to more than 140 jobs.
In May last year PayPal said it would cut a total of 307 jobs from its Irish operations in Dundalk and Dublin.
In November, PayPal had cut its annual revenue growth forecast in anticipation of a broader economic downturn and said it did not expect much growth in its US e-commerce business in the holiday quarter.
Executives at the company said at the time that a challenging macro environment, and slowing e-commerce trends were pushing it to be prudent with its forecast.
