EBay to cut 2,400 jobs, spin off or sell enterprise unit
In this article (4)
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.
Questions & Answers
Q.How many jobs does eBay plan to cut and when will this happen?
How many jobs does eBay plan to cut and when will this happen?
EBay intends to cut 2,400 jobs, which represents 7 percent of its staff. These job cuts are planned for the first quarter of the year as part of efforts to simplify the company's structure and increase profit.
Q.Which parts of eBay's business will be affected by the job cuts?
Which parts of eBay's business will be affected by the job cuts?
The job reductions will impact staff across eBay's marketplaces, its PayPal payments business, and its enterprise unit. This is part of a broader strategy to streamline operations ahead of a planned business separation.
Q.Why is eBay cutting jobs and what are its plans for the PayPal business?
Why is eBay cutting jobs and what are its plans for the PayPal business?
EBay is cutting jobs to simplify its structure and boost profit before a planned separation of its businesses. It expects to spin off its PayPal payments business in the second half of the current year.