January 29th, 2015

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

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 on 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.

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