Going, Going...Gone!
EBay Inc. plans to eliminate 1,600 jobs, or 10 percent of its workforce, to reduce costs as the company tries to revive its slowing growth.
Separately today, eBay revealed its intent to spend $1.34 billion on three acquisitions, the biggest of which is Bill Me Later, an online credit service.
The staff cuts include 1,000 full-time, temporary and part-time workers, plus some open positions that will be left unfilled. They come on top of 125 dismissals earlier this year by the San Jose company, whose core online marketplace is slumping in the face of stiff competition from Amazon.com and users' growing preference for shopping for products at a fixed price rather than by auction.
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