PayPal lays off about 20% of its employees in Israel
International payment giant PayPal is cutting approximately 70 out of 300 staff members at its Israeli R&D center. The move is part of a global efficiency plan aimed at saving $1.5 billion annually.
The international payment giant PayPal is parting ways with about 70 employees out of the approximately 300 employed at its development center in Israel, which deals, among other things, with fraud prevention, cyber, and various AI developments.
The cut at PayPal's local center is part of an extensive global efficiency plan led by CEO Enrique Lores, under which about 20% of the company's global workforce will be cut in the coming years, with the goal of saving about 1.5 billion dollars a year. The plan includes eliminating role redundancies, reducing management layers, and expanding the use of AI in the company's development and customer service processes. The move comes despite an increase in the company's revenues in the second quarter of 2026, but in the face of tough competition from companies like Stripe.
PayPal stated:
"The changes in the workforce are part of the multi-year transformation process, which we announced in the past, designed to simplify our global operations and set the company on a long-term growth path. Decisions of this kind are not easy, and we are well aware of their impact on our employees. We are committed to standing by them and providing them with full support during this period of change."
Layoffs also at Bizzabo
The Israeli company Bizzabo, which develops a technological platform for conferences, is also forced to carry out a round of cuts — the third since 2022, when it parted ways with 40% of its employees. As part of the current move, the company will part ways with dozens of employees in various roles.
Bizzabo, founded in 2011 by Eran Ben-Shushan, Alon Alroy, and Boaz Katz, develops a platform called Event Experience OS, which organizes everything related to conferences and business events. Their system covers all the bases for event organizers from end to end: from ticket sales and registration management, through dedicated apps for participants and tools for creating interaction in real-time, to data analysis and connection to CRM systems to generate insights after the event. To date, the company has raised about 200 million dollars, and its list of investors includes Insight Partners, Viola Growth, OurCrowd, Next47, and Pilot Growth Equity.
The company stated in response:
"Bizzabo has made changes to its organizational structure as part of a transition to a faster way of working and building for the events market, which continues to grow. These were difficult decisions that affect employees in Israel and around the world who contributed to the company's success. We are accompanying and supporting everyone who has been affected by them."
