Home Trading Cards & Memorabilia Forum

Despite huge profits, EBAY laying off 2400 people

Comments

  • dennis07dennis07 Posts: 1,842 ✭✭✭
    Collecting 1970 Topps baseball
  • jfkheatjfkheat Posts: 2,721 ✭✭✭✭✭
    Maybe now they will stop making stupid un-needed changes.
    James
  • Carew29Carew29 Posts: 4,026 ✭✭

    American Express is laying off 7% ... and they loss the Costco account as of Jan 1st to Capital One
  • Pro's up, yee's down.
  • It's a mistake to equate layoffs with a lack of profitability. eBay is doing great. Their "stupid un-needed changes" have all been things that--I have no doubts--*made* them money. The issue is that there is an expectation of *increasing* growth--i.e. that they'll make MORE money in the future than they have in the past. That's super hard - most online venues just aren't growing like that. To keep up with growth expectations, they have to cut costs. Thus, lay-offs.

    If anything, let's hope things improve for eBay. The richer they are, the less they'll be financially driven to pinch sellers.
  • wrestlingcardkingwrestlingcardking Posts: 4,555 ✭✭✭✭


    << <i>American Express is laying off 7% ... and they loss the Costco account as of Jan 1st to Capital One >>



    Wow, I had no idea.
    BUYING Frank Gotch T229 Kopec
    Looking to BUY n332 1889 SF Hess cards and high grade cards from 19th century especially. "Once you have wrestled everything else in life is easy" Dan Gable
  • baz518baz518 Posts: 1,231 ✭✭✭✭
    Just a smart business decision. These layoffs are just in preparation of eBay splitting into 3 separate companies in the very near future.
  • ndleondleo Posts: 4,064 ✭✭✭✭✭


    << <i>
    If anything, let's hope things improve for eBay. The richer they are, the less they'll be financially driven to pinch sellers. >>



    I really doubt ebay, or any large company, thinks that way. The pay and bonus structure at these types of companies do not deter executives from making decisions that keep pinching the seller.

    Mike


  • << <i>

    << <i>
    If anything, let's hope things improve for eBay. The richer they are, the less they'll be financially driven to pinch sellers. >>



    I really doubt ebay, or any large company, thinks that way. The pay and bonus structure at these types of companies do not deter executives from making decisions that keep pinching the seller. >>



    Think about it in the reverse: the worse things get financially, the MORE they'll be driven to pinch sellers. That's definitely true.
  • BaltimoreYankeeBaltimoreYankee Posts: 2,894 ✭✭✭✭✭
    That's the way of the business world. Comcast had a net income of $14 billion with a B in 2013 and will make more in 2014. I still got the annual rate increase notice with them crying poverty over programming costs. Verizon is installing FIOS in my house tomorrow.
    Daniel
  • ndleondleo Posts: 4,064 ✭✭✭✭✭


    << <i>That's the way of the business world. Comcast had a net income of $14 billion with a B in 2013 and will make more in 2014. I still got the annual rate increase notice with them crying poverty over programming costs. Verizon is installing FIOS in my house tomorrow. >>



    EXACTLY.

    Economic hardship does drive companies to lower costs to get more business, look at JC Penney and other retailers in trouble. The prices got so low at JCP that Macy's had to start discounting as well.

    Making lots money does not make a company care more about its customers. The question is can ebay keep sticking it to the sellers, the answer is yes because there is no competition.
    Mike
  • cincyredlegscincyredlegs Posts: 2,032 ✭✭✭
    I would comment but don't want to get banned!!!!!!!

    BTW, who's ready for spring training?

    Mark
    Project:

    T206 Set - 300/524
  • TNP777TNP777 Posts: 5,711 ✭✭✭


    << <i>

    << <i>American Express is laying off 7% ... and they loss the Costco account as of Jan 1st to Capital One >>

    Wow, I had no idea. >>

    Wait... what???

    I need to see what's up with that.

    edit: that appears to be true for Canadian Costcos only. However, reports in November say that Costco is weighing the same move for its American stores.
  • PMKAYPMKAY Posts: 1,372 ✭✭


    << <i>

    << <i>

    << <i>American Express is laying off 7% ... and they loss the Costco account as of Jan 1st to Capital One >>

    Wow, I had no idea. >>

    Wait... what???

    I need to see what's up with that.

    edit: that appears to be true for Canadian Costcos only. However, reports in November say that Costco is weighing the same move for its American stores. >>



    For years the only credit card you could use at Costco in Canada was American Express. That has not been the case for months now.
  • MrNearMintMrNearMint Posts: 1,209 ✭✭✭
    I've heard that American express' merchant fees are very unreasonable. This may only be true with smaller businesses but I've heard it for years now.
  • StingrayStingray Posts: 8,843 ✭✭✭


    << <i>

    << <i>American Express is laying off 7% ... and they loss the Costco account as of Jan 1st to Capital One >>



    Wow, I had no idea. >>



    My Wife just got a Cosco membership a week ago and had to get the American Express card??
  • Dpeck100Dpeck100 Posts: 10,910 ✭✭✭✭✭


    << <i>It's just financial engineering. Sort of like eBay offerings 1,000 free listings the day after earnings, after not offering any for about a month. Go figure, they exceeded earnings.

    It would be an interesting strategy to trade (long or short with options) based on eBay offering free listings / deals close to earnings (top line revenues) vs not offering anything. >>




    I looked at the options heading into earnings and the straddle for weekly options was around $3.50. The stock moved about 30 cents more then that so unless you took the right direction bet there was very little money to be made.

    Looking at the chart this is a tough stock to trade.

  • Dpeck100Dpeck100 Posts: 10,910 ✭✭✭✭✭


    << <i>

    << <i>I looked at the options heading into earnings and the straddle for weekly options was around $3.50. The stock moved about 30 cents more then that so unless you took the right direction bet there was very little money to be made.

    Looking at the chart this is a tough stock to trade. >>



    In this recent example, I was not thinking (neutral strategy) straddle / strangle / butterfly rather bull call / put spreads or shorting / selling ATM (give or take) puts. >>




    I get it. Just a tough stock to trade with no real direction and the options market was fairly accurate in pricing in the move.

    Just looking at the current options your concept might work well on non earnings release months as the front month $57 call is $1.13.

    Not to large of a hurdle if you can get the direction right.

  • bishopbishop Posts: 2,917 ✭✭✭
    If I were not retired and if I owned a business, I would hire all you fellows to run it. Man, would I be in a special place
    Topps Baseball-1948, 1951 to 2017
    Bowman Baseball -1948-1955
    Fleer Baseball-1923, 1959-2007

    Al
  • JMDVMJMDVM Posts: 950 ✭✭✭


    << <i>I've heard that American express' merchant fees are very unreasonable. This may only be true with smaller businesses but I've heard it for years now. >>



    True. When I had my business, I took Visa,Mastercard,Discover, no AMEX
  • JMDVMJMDVM Posts: 950 ✭✭✭
    Laying off workers equals cost cuts hoping to translate to higher earnings. They will pinch as much as they can get away with.
  • mtcardsmtcards Posts: 3,342 ✭✭✭
    AMEX merchant costs are excessively higher than regular CC. I can accept them in my business, but do not advertise them and limit it to the one or two accounts I have that prefer to pay that way. As for the laying off of employees....that will continue to happen as long as certain economic factors are in place, at least for the next 2 years or so.
    IT IS ALWAYS CHEAPER TO NOT SELL ON EBAY
  • I remember eBay did this once before years ago soon after Donahoe took charge. They laid off the bottom 10% across the board...+

    I think its sort of trendy in corporate culture to do. Just part o' the game I guess.
  • Love using Amex, however will never accept it!
  • TNP777TNP777 Posts: 5,711 ✭✭✭
    And now Citi is officially coming to US Costcos - AmEx is out.

    Efffective April 1, 2016
  • thats alot of people
    Rick Probstein
    Ebay Store:
    Probstein123
    phone: 973 747 6304
    email: rickprobstein1@gmail.com

    Probstein123 is actively accepting CONSIGNMENTS !!
  • rajah424rajah424 Posts: 439 ✭✭
    Most of them live in my building.
Sign In or Register to comment.