eBay might eliminate thousands of jobs early next year as it gets ready to spin off PayPal, sources familiar with the situation tell The Wall Street Journal.
The cuts would affect at least 3,000 employees in eBay’s core marketplace division, according to one source. That would be the largest cut at eBay in many years (blowing past the 325-person cut from PayPal back in 2012).
The company announced that it would spin off PayPal in September to give each company a sharper focus. At the end of last year, eBay had 33,500 employees split between PayPal and the marketplace part of the company.
The Journal’s sources said that the company is still evaluating its options and could alter the job-cut plan, but adjustments are undoubtably on the horizon.
“There will be changes,” Devin Wenig, current marketplace division president and future chief executive of eBay, told The Wall Street Journal last month. “There will be significant changes.”
An eBay spokesperson told Business Insider that the company doesn’t comment on rumours. “We are focused on running the business and setting eBay and PayPal up for success as independent companies.”