PayPal is to cut 85 jobs in Ireland.

The financial tech company currently has 1,600 Irish employees but today’s announcement means that figure will fall by 5%.

In a statement to Newstalk, a spokesperson said any changes will be “subject to consultation, and no redundancies will take effect until after a consultation process has concluded.” 

They also said any employee made redundant would be offered “discretionary enhanced redundancy”. 

In January, PayPal announced plans to cut around 2,500 jobs - or 9% - of its global workforce but the company has said it remains “committed” to its Irish base.

Main image: PayPal's offices in Blanchardstown, Dublin. Photograph: Sasko Lazarov / RollingNews.ie