- GOP presses to scrap IRS commissioner position — but put in panel
- New bill would make sure women in military can get free birth control
- Trafficking bust reveals worries over missing kids; minors as young as 11 found
- Catholic League slams Obama: ‘Do Christian lives mean so little to you?’
- National laboratory cancels ‘Southern Accent Reduction’ classes after outcry
- U.S. woman with Ebola is stable, improving, son says
- Belgium pushes for clear labeling of goods from Israeli settlements
- ‘Queen of Mean’ Leona Helmsley’s former home hits market for $65M
- Florida beach-goers told to beware flesh-eating bacteria in water
- Lundergan Grimes uses ‘war on women’ strategy to attack McConnell
Sources: PayPal planning layoffs
Question of the Day
NEW YORK (AP) - EBay’s PayPal unit is planning layoffs in the coming weeks as it tries to refocus and operate more like an agile startup than a large company, according to people familiar with the matter.
These people spoke on the condition of anonymity because they were not authorized to discuss the layoffs. Bloomberg reported on Friday that the cuts could affect as many as 400 jobs. PayPal has nearly 13,000 employees.
In a statement, PayPal said it has told employees about plans to “strengthen and simplify” how it creates and delivers products. It said it has not yet discussed how these plans might affect jobs and did not confirm or deny the possible layoffs.
Nonetheless, a person familiar with the matter said that PayPal employees were told a few weeks ago that there would be a “reduction in workforce.” The person did not know how many jobs would be cut.
“What’s not a rumor is that we are committed to changing the way we build products and becoming a simple, customer-focused company. We haven’t changed course on our vision, but as you know and have been advised, we need to change our approach to how we will get it done,” Marcus wrote in the memo obtained by The Associated Press.
Marcus took PayPal’s helm in April. He joined the company when eBay acquired his startup, mobile payments provider Zong, in August. EBay CEO John Donahoe said at the time that Marcus brings “startup energy” to PayPal.
“Rather, we view it as part of relatively new President Marcus‘ overall review of PayPal and his focus on returning the division to a more startup like and nimble environment within eBay,” The analyst wrote in a note to investors.
On Monday PayPal also unveiled a marketing campaign aimed at positioning itself as a customer-focused company that provides more than mobile wallet technology. It hired the actor Jeff Goldblum (“The Big Chill” and other films) to chat up PayPal as an all-purpose payments service in a series of online videos.
TWT Video Picks
- Patent workers paid to exercise, shop, do chores: report
- Fla. mom arrested for allowing 7-year-old son to walk to park alone
- CARSON: Rudderless U.S. foreign policy
- Catholic League slams Obama: 'Do Christian lives mean so little to you?'
- Obama thanks Muslims for 'building the very fabric of our nation'
- Federal judge grants 90-day stay in D.C. gun case
- Boehner rules out impeachment: 'Scam started by Democrats'
- Proving A Point: Redskins' Bacarri Rambo vows to make impact in second year
- Obama mum on where illegal immigrant children are sheltered
- National laboratory cancels 'Southern Accent Reduction' classes after outcry
Obama's biggest White House 'fails'
Celebrities turned politicians
Athletes turned actors
20 gadgets that changed the world