There are fears for around 160 jobs at the Irish operation of payments firm PayPal.
Sinn Féin TD Ruairí Ó Murchú said he has received confirmation from the company that it is planning to cut 164 roles which is almost 12% of its Irish workforce.
“This is devastating for the workers involved and their families, many of whom have given years of sterling service to PayPal,” Mr Ó Murchú said.
“The process of the nomination of employee representatives will begin shortly and there will be a period of negotiation and consultation with workers, with redundancies proposed to be taking place between 7 and 21 October,” he added.
A spokesperson for PayPal would not comment on the number of jobs at risk.
“The proposed staffing changes are part of our previously announced multi-year transformation to simplify our global operations, strengthen execution, and position the company for long-term growth,” they 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,” the company added.
The Department of Enterprise said it received a collective redundancy notification from PayPal on 28 August.
In April, the company informed the Government of a previous round of proposed redundancies.
In 2024, PayPal cut 290 jobs at its Irish operation.
In March 2023, the company announced 62 redundancies in Dundalk and Dublin, and the closure of its Dundalk office.
Remaining staff in Dundalk were moved to remote working.
Last week ,it was reported that a consortium of payments company Stripe and buyout firm Advent had decided to abandon a plan to buy PayPal.
It was previously reported that PayPal’s board saw the takeover bid as inadequate and said it faced regulatory and financing hurdles.
