Home
Internet
Internet News
eBay May Slash Roughly 3,000 Jobs Ahead of PayPal Split: Report

eBay May Slash Roughly 3,000 Jobs Ahead of PayPal Split: Report

By Agence France-Presse | Updated: 11 December 2014 09:16 IST

US online retail giant eBay may slash thousands of jobs early next year as it prepares to separate from PayPal to become an independent company, The Wall Street Journal reported Wednesday.

Some 3,000 jobs about 10 percent of the total workforce could be affected, sources close to the company told the newspaper.

The cuts may be in the marketplace division, which includes eBay.com and StubHub, according to WSJ.

An eBay spokeswoman did not confirm or deny the news, and instead said the company is focused on ensuring the success of the new business once the split is complete.

"We are focused on running the business and setting eBay and PayPal up for success as independent companies," Amanda Miller told AFP.

eBay announced in September it was spinning off PayPal in a bid to help the unit compete better in the fast-moving online payments segment.

The plan will take effect next year, and comes after months of pressure led by activist investor Carl Icahn, who had assailed eBay for poor management and claimed that keeping eBay tied with PayPal depressed the value of both.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.