Another blow to Ireland's tech sector
Digital payment service PayPal is the latest tech company to suffer a wave of job cuts, as its Dundalk office announces its closure and the loss of 62 jobs.
The Louth-based office will shut from the end of March, with the remaining staff - totaling 1,000 - being asked to move to remote work. The company is also planning to move to a new, smaller-sized base in central Dublin after announcing that it will close its Ballycoolin, Blanchardstown one. Bloomberg reported today that PayPal is searching for a new CEO who can help reverse its $279 billion stock drop, after CEO Dan Schulman announced that he will retire at the end of the year.
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