Net's eBay to Reduce Workforce 10 Percent
Posted on: Monday, 6 October 2008, 21:00 CDT
U.S. Internet auction house eBay Inc. said Monday it would cut its staff by 10 percent, a move that would lay off about 1,000 full-time staff members.
The cutback would also affect "several hundred temporary workers and the reduction of open positions," eBay said in a statement.
The announcement was coupled with the news that eBay would purchase online billing service Bill Me Later for $820 million in cash and $125 million in outstanding options; eBay also said it would purchase dba.dk, Denmark's leading online classified ad business.
Dba.dk would cost the company $390 million, eBay said.
"We are making aggressive moves to strengthen our leadership positions in e-commerce and payments to competitively position our company for long-term growth," eBay's Inc.'s President and Chief Executive Officer John Donahoe said in a statement.
Donahoe said cutting staff was "never an easy decision to make."
"The reductions will help improve our operations and strengthen our ability to continue investing in growth," Donahoe said.
Source: United Press International
Related Articles
- EBay to Lay Off 1,600 Employees, Cites Economy
- EBay Settles 7-Year Dispute Over Patents
- Changing Cubicles to Shake Up eBay Executive Seeks to Shift Company into Portfolio of Retail Sites
- Lock Auction: Do I Hair $1 Million
- Police Lower Starting Bid for Rolex on eBay
- Computer Theft Probe at Sachem: Consultant for the School District is Accused of Stealing Staff Computers and Related Equipment and Then Selling It on eBay
- High Court Considers EBay Case On Patent
- 10 Years of Surfin' & Shoppin'
- Bills Hire Mularkey to Be New Coach
User Comments (0)
RSS Feeds