article: "Big layoffs are coming to eBay"

DennisH · January 21, 2015 8:22AM

NEW YORK (CNNMoney)

Big layoffs are coming to eBay.

The company is planning to slash 2,400 workers across the eBay and PayPal parts of the business. The cuts will impact 7% of the workforce.

The layoffs will be made before the end of March. EBay said it was "simplifying organizational structures" in its quarterly earnings released Wednesday. A company spokesperson told CNNMoney that some of the cuts were to unfilled positions, but would not say how many.

ebay (EBAY, Tech30) also said its profit rose 10% last quarter.

In September the company announced that it would be spinning off PayPal, its online payment service. That is expected to take place in the second half of 2015.

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TopographicOceans · January 21, 2015 8:25AM

I better cover my short positions - I see it's up in after hours

The best way I've learned to make money on eBay is selling their stock short when they get more screwed up.

Manorcourtman · January 21, 2015 8:39AM

Good news for the scammers and counterfeiters. Pretty soon they'll have free reign to roam the website undisturbed.

LindeDad · January 21, 2015 8:45AM

<< Good news for the scammers and counterfeiters. Pretty soon they'll have free reign to roam the website undisturbed. >>

Have to say the problem is not just in coins. Looking for a deal it's probably a copy of someone else idea.

coindeuce · January 21, 2015 8:51AM

But...but...dear leader in his SOTU proclaims that our economy is on the rebound and all is rainbows and
unicorns.

How dare you spread ill will.

TwoSides2aCoin · January 21, 2015 8:54AM

I am partially to blame for selling widgets there

Sorry.

TopographicOceans · January 21, 2015 9:12AM

Interesting dagger to the head coin

Unknown · January 21, 2015 9:31AM

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winky · January 21, 2015 10:02AM

Doesn't bother me at all. I say LAY them off, stop the junk coins on the market.

Kove · January 21, 2015 10:51AM

Somewhat of a surprising move for a company whose profit is up 10%. From personal experience, all that does is tell employees "do a good job, help us meet our profit, and you STILL won't be safe." Stuff like this is a cancer on morale inside a company.

DollarAfterDollar · January 21, 2015 11:00AM

Just a case of another greedy company.

Hardly Obama's fault.

TwoSides2aCoin · January 21, 2015 11:00AM

" dagger to the head coin." That's a good one, TopgraphicOceans. It hits the target and topic of the thread.

Cougar1978 · January 21, 2015 11:03AM

My incentive to put in any time above my 40 hours would be zero there.

ScarsdaleCoin · January 21, 2015 12:34PM

Its a move because of a takeover scare....paypal is poised for most growth especially after it spins off which is good news for that unit.....ebay is stuck with little growth and the enterprise unit is going to feel the biggest cuts

johnny9434 · January 22, 2015 5:23AM

<< Good news for the scammers and counterfeiters. Pretty soon they'll have free reign to roam the website undisturbed. >>

thats just the start

koynekwest · January 22, 2015 7:56AM

<< Good news for the scammers and counterfeiters. Pretty soon they'll have free reign to roam the website undisturbed. >>

Kinda that way now, isn't it?

lostincoins · January 22, 2015 8:20AM

come on people it is just normal business practice to simplify operations by reducing the number of open positions as it makes the company appear more contained. They said " some of the cuts were to unfilled positions, but would not say how many" so it could be a very large number of unfilled positions they are eliminating. If a company this size does not restructure on occation they will take substantial losses. The only reason this seems big is because of the size of the company, it is only 7% of the positions. look at it as 7 out of 100 and it will seem more normal and not news worthy.

MGLICKER · January 22, 2015 8:29AM

<< But...but...dear leader in his SOTU proclaims that our economy is on the rebound and all is rainbows and
unicorns.

How dare you spread ill will.

>>

no kidding.

MGLICKER · January 22, 2015 8:30AM

<< Somewhat of a surprising move for a company whose profit is up 10%. From personal experience, all that does is tell employees "do a good job, help us meet our profit, and you STILL won't be safe." Stuff like this is a cancer on morale inside a company. >>

Hell, they have already screwed the sellers, why should the employees expect any better.

Bullsitter · January 22, 2015 4:23PM

<< 

<< Somewhat of a surprising move for a company whose profit is up 10%. From personal experience, all that does is tell employees "do a good job, help us meet our profit, and you STILL won't be safe." Stuff like this is a cancer on morale inside a company. >>

Hell, they have already screwed the sellers, why should the employees expect any better. >>

AMEN !!!!!!!!

TwoSides2aCoin · January 22, 2015 10:48PM

BUY BUY BUY
SELL SELL SELL

CoinZip · January 23, 2015 12:05AM

gsa1fan · January 23, 2015 1:05AM

What is up with the new auction on eBay. The one you pay 17.5% juice like the rest of traditional coin auction sites. I REALLY do not like the feel of this new format.

MGLICKER · January 23, 2015 1:05AM

Interesting to see Ebay stock pop yesterday on strong earnings. Wonder if they accounted for the heavy expense of the Ebay Buck liability that was accrued with the several days of 8-10% bucks promotions in December. Those sales are essentially profitless to Ebay and the Bucks did not get cashed in until after the quarter ended.

article: "Big layoffs are coming to eBay"

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article: &quot;Big layoffs are coming to eBay&quot;

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article: "Big layoffs are coming to eBay"