Encomium
E-commerce giant, eBay will, this quarter, slash 2,400 jobs – seven percent of its workforce as it restructures and prepares to spin off its PayPal finance unit, it announced yesterday (Wednesday, January 21).
The California (USA)-based company unveiled the plan as it announced its profit in the fourth quarter rose to $936 million (N178.35bn) on $4.9 billion (N933.7bn) in revenue.
The cuts will be across eBay’s three divisions: Marketplaces, Enterprise and PayPal. The re-organization will return eBay to its roots with the “Marketplaces” division, which includes its auctions and online retail sales and accounted for nearly half its 2014 revenues.
