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EBay to Lay Off 10% of Work Force
The Internet company, eBay, announced Monday that it was laying off 10 percent of its work force, or about 1,000 permanent employees and several hundred temporary workers. The announcement was largely unrelated to the potential economic impact of a slowdown in e-commerce. Rather, it represented an effort by eBay to improve the performance of its core marketplace division, which has experienced declining, single-digit growth in the last few years while the rest of e-commerce grows at a double-digit clip. The company said it would take a pretax restructuring charge of $70 million to $80 million, largely in the fourth quarter, according to the NY Times.
Tags: EBay Layoff
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2 total votes | Comments (0) | Created by steve on 2008-10-06 - Login to vote or comment!