eBay cutting a load of staff

22 January 2015

ebay ebay are cutting a load of jobs. The forum for old toot and hooky goods is shedding 2,400 staff in the first three months of 2015.

This comes after news that they are about to split away from their long running association with PayPal.

ebay dropped the news when they were unveiling the fourth quarter earnings report and they bugled in a statement that it wanted to refocus the businesses and ensure it was "set-up to compete and win".

The online jumble sale also said it has made an agreement with activist investor, Carl Icahn, to give investors a greater say in its PayPal business once it is spun off in the second half of this year, as eBay also announced that it was considering a sale or public offering of its enterprise unit.

Fancy that.

They must be doing something right though as the company's share price went up this morning. How to get ahead in business - sack a load of people and sell off your financial arm.

TOPICS:   Banking

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