Advertisement

PayPal to close Hunt Valley location, lay off 380 people, company says

PayPal Inc. plans to close its Hunt Valley offices, leaving about 380 people without jobs.

The company notified the Maryland Department of Labor, Licensing and Regulation that those workers would be laid off by July 8.

Advertisement

The closing of its Baltimore County office comes after PayPal agreed to sell its consumer credit receivables to Synchrony in 2017. PayPal’s Hunt Valley team performs customer contact activities for U.S. PayPal Credit’s servicing and collections operations, according to a statement from PayPal.

A PayPal location in Timonium will remain open, officials said in the statement.

PayPal's Baltimore County operations started as Bill Me Later, founded in 2000 by local entrepreneurs. In 2008, eBay/PayPal bought Bill Me Later for $945 million and rebranded the company as PayPal Credit. PayPal and eBay split into separate companies in 2015. The company once employed about 1,00 people in the county.

The Hunt Valley office is scheduled to close after the servicing transition is completed by late June.

“We value the work of our Hunt Valley teammates and are making every effort to the identify new opportunities for them both inside and outside of PayPal,” officials said in a statement. “We are fully committed to helping employees transition to the next steps in their careers. For those whose roles will be eliminated, we are providing comprehensive separation packages, career outplacement services, and employee assistance programs.”

The company is offering career coaching, job search and resume assistance, information on networking and interview training from onsite career transition placement professionals, the statement says.

The Associated Press contributed to this article.

Advertisement
Advertisement