eBay to cut 1,000 jobs
Monday 6th October 2008, 7:36PM BST.
eBay, the online auction website, has announced it is to lay off 1,000 employees, or 10 per cent of its workforce, as part of a move to streamline the business.
Hundreds of temporary workers are also at risk of losing their jobs in the cutbacks, the company announced.
During the same annoucement eBay said it was also buying online payments site Bill Me Later and that it had bought two Danish classified advertising websites.
It is paying $390m for dba.dk and vehicles site bilbasen.dk.
eBay – which already owns online payment firm Paypal – has signed an agreement to buy Bill Me Later for $820m in cash and $125m in options.
“PayPal and Bill Me Later belong together,” said eBay president and chief executive John Donahoe in a statement.
“We now have a powerful combination of the two leading, complementary online payment products, each with proven benefits for consumers and online merchants.”
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