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Omaha Steve

(99,727 posts) Wed Jan 21, 2015, 10:30 PM Jan 2015

EBay to cut 2,400 jobs, spin off or sell enterprise unit

Source: AP-Excite

By MAE ANDERSON

NEW YORK (AP) — EBay plans to cut 2,400 jobs, or 7 percent of its staff, in the first quarter to simplify its structure and boost profit ahead of a planned separation of its business.

The job cuts will fall across its marketplaces, PayPal and enterprise businesses.

They come as the e-commerce company reported Wednesday that its fourth-quarter net income rose 10 percent on continued strength of its PayPal payments business, which it expects to spin off in the second half of the year.

Other developments Wednesday: EBay said it may also spin off or sell its enterprise unit, which develops online shopping sites for brick-and-mortar retailers, and agreed to add an executive from activist investor Carl Icahn's firm to its board.

FULL story at link.

This Jan. 14, 2015 photo shows an exterior view of eBay headquarters in San Jose, Calif. EBay reports quarterly financial results on Wednesday, Jan. 21, 2015. (AP Photo/Marcio Jose Sanchez)

Read more: http://apnews.excite.com/article/20150121/us--ebay-job_cuts-5e9fa4036d.html

4 replies

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EBay to cut 2,400 jobs, spin off or sell enterprise unit (Original Post) Omaha Steve Jan 2015 OP

Greedy bastards kimbutgar Jan 2015 #1

Profit rises = now we cut more jobs Fearless Jan 2015 #2

I'm kind of surprised they employ as many people as they do thesquanderer Jan 2015 #3

I used to sell stuff on ebay Plucketeer Jan 2015 #4

kimbutgar

(21,195 posts)

1. Greedy bastards

Reply to Omaha Steve (Original post)

Wed Jan 21, 2015, 10:53 PM

Jan 2015

Wall Street never thinks a profit is enough. They want more the next quarter in earnings. The company is cursed by Meg Whitman minions.

Fearless

(18,421 posts)

2. Profit rises = now we cut more jobs

Reply to Omaha Steve (Original post)

Wed Jan 21, 2015, 10:54 PM

Jan 2015

It's a miracle anyone is working anymore.

thesquanderer

(11,992 posts)

3. I'm kind of surprised they employ as many people as they do

Reply to Omaha Steve (Original post)

Wed Jan 21, 2015, 11:14 PM

Jan 2015

At least the main business, eBay itself, wouldn't seem to need many employees. They don't design, buy, sell, manufacture, warehouse, or ship anything. Basically, it's an automated web site, with user-supplied content. I'm sure the site took many man-hours to develop, but it's kind of done, and now just runs. I wonder what they need tens of thousands of employees for.

Plucketeer

(12,882 posts)

4. I used to sell stuff on ebay

Reply to Omaha Steve (Original post)

Thu Jan 22, 2015, 12:20 AM

Jan 2015

Not any more. They get more and MORE and do Less and less for little guys like me. Screw them!

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