eBay Plans To Cut 2,400 Jobs

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%.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

ebay sai-us