The Washington Times Online Edition

Ebay to cut 1,600 jobs

← return to Tech Zoo

Some big news out of eBay Inc. this morning as the San Jose auction site announced plans to trim its global work force by 10 percent, resulting in about 1,600 layoffs.

The company said the cuts will streamline its organization and improve competitiveness.

In addition, eBay is acquiring Bill Me Later, an online payments firm that's second to PayPal, which eBay already owns. The transaction is for $820 million in cash and about $125 million in options.

Comments
blog comments powered by Disqus
Featured
Talk of the Web
Happening Now
Most Read

    Independent voices from the TWT Communities

    Media Migraine

    First over-the-counter column approved for fast and effective relief from even your worst media-induced headache.