eBay and PayPal Split May Result in Thousands of Job Losses
- Thursday, December 11th, 2014
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eBay is reportedly considering cutting 10 per cent of its workforce, or around 3,000 employees, as part of the upcoming spin-off of its PayPal digital payments unit.
The cuts are expected to be focused on the companys core marketplace division, according to the Wall Street Journal, which cited people familiar with the companys thinking.
The spin-off, which was announced in September, is suspected to be partly due to the slowing growth of eBays marketplace business, which is dragging down the more profitable PayPal unit.
eBay has declined to comment specifically on whether or not the company was considering layoffs as part of the spin-off plans.
“We are focused on running the business and setting eBay and PayPal up for success as independent companies,” said Amanda Miller, eBay spokesperson.