PayPal Laying Off 380 Employees

HUNT VALLEY, MD — Online payment company PayPal announced it will be cutting 380 jobs from its Hunt Valley facility. Officials gave notice of the layoffs to state labor regulators on Thursday, March 28.

The PayPal layoffs will take effect on July 8, according to the Work Adjustment and Retraining Notification (WARN) filed with the Maryland Department of Labor, Licensing and Regulation.

The mass layoff was attributed to PayPal transitioning some of its services to Synchrony Bank, a spokesman for PayPal told Patch.

PayPal will shift servicing and collections support for its U.S. product to Synchrony.

"The Synchrony and PayPal contract and relationship are strong," Lisa Lanspery, spokeswoman for Synchrony, said in a statement to Patch.

This article has been corrected to reflect the nature of the relationship between PayPal and Synchrony.