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EBay to cut jobs

7th October 2008 2:41 pm

Internet auction & retail site EBay (NASDAQ: EBAY) has announced that it will be cutting 10% of it’s staff as it looks to streamline it’s costs after a difficult 3rd quarter of 2008.

The company announced the cut as it admitted it’s revenue would be at the low end of of their expectations (Between $2.1 and $2.15 billion).

John Donahoe, eBay’s chief executive said “While never an easy decision to make, these reductions will help improve our operations and strengthen our ability to continue investing in growth,”. A spokesperson for EBay’s uk operation has admitted that jobs there are at risk.

Conversely EBay’s profits have exceded expectations and the company has also announced the $820 million aquisiton of Bill Me Later an online service that allows users to defer payment on goods.

Would you like to know more about online auctions and retailing? If so, contact Hit Search, SEO and Google adWords qualified PPC specialists, on 0845 643 9289. Remember, its a big world out there, make sure you become visible.


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