CHANDLER — Internet payment processor PayPal is closing its Chandler offices and laying off an undetermined amount of workers, though many of its employees will continue to work remote.
PayPal decided to not pursue a lease renewal at its Chandler facility, a spokesman confirmed this week, though nearly its entire staff at the campus have been working remotely since 2020 with the online payment company.
Also, in an unrelated development, the company has laid off at least 80 workers, including some at the Chandler facility, though the spokesperson declined to answer how many layoffs happened in Chandler.
“PayPal is constantly evaluating how we work to ensure we are prepared to meet the needs of our customers and operate with the best structure and processes to support our strategic business priorities as we continue to grow and evolve,” said spokesperson Caitlin Girouard. “At PayPal, we are continually looking at and evolving how we can work in the most collaborative and efficient ways possible, and we routinely evaluate our global office footprint and spaces to ensure that our company and our employees are best set up for success.”
Filings with the state of California show PayPal is laying off 83 employees from its San Jose headquarters.
The Silicon Valley Business Journal reported late last month PayPal Holdings Inc. has reportedly cut jobs in risk management and operations around the country, including dozens of staffers from its Chicago, Omaha and Chandler campuses.
As of Tuesday, the Arizona Department of Economic Security has only had three companies file any Worker Adjustment and Retraining Notification Act or non-WARN reports of layoffs since Jan. 1 of this year. PayPal is not among those employers.
Those WARN notices are required of most employers who have more than 100 workers. PayPal has several thousand employees in the Valley.
PayPal last announced layoffs at the Chandler facility in late 2017.
Bloomberg news reports PayPal took on many new employees during the pandemic. The company ended calendar 2021 with 30,900 employees, which would be a 33% jump from its staffing of about 23,000 in early 2020.
In addition to growing the number of accounts more slowly during the first-quarter 2022 than in the first two years of pandemic, PayPal has had stock troubles this year. The company’s stock price dropped by almost 60% from Jan. 1 to May 31.
The Nasdaq composite index only dropped by about 25% during that span.
On Monday alone, the PayPal Holdings Inc. stock price dropped by more than $5.50 per share to $73.72 — a one-day loss of more than 7%.
Girouard confirmed PayPal has no plans to eliminate more positions, including those at its Scottsdale facility.
“PayPal remains fully committed to the region and to Arizona and we will continue to hire into and invest in our business and people working within the state,” Girouard said. “The pandemic, in particular, has taught us there are many ways in which we can work effectively while providing our employees with flexibility.”
Jason W. Brooks is a News editor for the Daily Independent and the Chandler Independent.
He covers the Chandler area for both yourvalley.net and the monthly print edition while writing for and assisting in the production of the Daily Independent.
Brooks is a well-traveled journalist who has documented life in small American communities in nearly all U.S. time zones.
Born in Washington, D.C. and raised there and in suburban Los Angeles, he has covered community news in California, New Mexico, Arkansas, Iowa, Nebraska and northern Arizona.
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