eBay cuts jobs

eBay has announced plans to cut 1600 jobs – equating to 10 percent of their work force. Of this 1600 about 1000 of the jobs to go will be full-time workers.

eBay has announced plans to cut 1600 jobs – equating to 10 percent of their work force. Of this 1600 about 1000 of the jobs to go will be full-time workers. The job losses are expected to effect all areas of the company and roll out globally.

eBay CEO John Donahoe said the job cuts would allow the company to be “more responsive and nimble”. The news saw eBay stock taking a dive to a five and a half year low…

The restructuring is expected to result in $US150 million in annual cost savings.The job cuts mark the company’s second downsizing in the past year; in March the company cut 125 jobs across Europe and the US.

Source: SMH