eBay just released its Q4 earnings and announced it plans to cut 2,400 jobs to simplify its organizational structure. That’s about 7% of its total workforce across eBay and PayPal.
The cut wasn’t unexpected. It comes following the company’s decision, announced in September, to spin off PayPal in 2015 to give each company a sharper focus.
This will be the largest cut at eBay in many years (blowing past the 325-person cut from PayPal back in 2012).
The company reported revenue of $US4.92 billion and net income of $US936 million, or $US0.75 per share.
It also reported that it was considering a sale or IPO of eBay Enterprise, which helps third parties run their online shopping sites.
The company’s stock is up about 2.3%.