PayPal is planning to significantly reduce its Israeli workforce, cutting approximately 70 positions at its Tel Aviv development center. This equates to roughly 23% of the company’s employees in Israel, where it currently employs around 300 people. The cuts are part of a broader global restructuring effort aimed at reducing costs and reallocating resources toward artificial intelligence investment. The company did not specify the exact timeline for the layoffs, but confirmed the changes are underway. This decision reflects a wider trend in the tech industry of streamlining operations and prioritizing emerging technologies like AI. The move impacts PayPal's development operations within Israel, a key hub for technological innovation. It remains unclear how these cuts will affect PayPal’s long-term presence in the country.