eBay Slashes Workforce By 10%
October 7, 2008 – 11:30 amAs rumoured, eBay has announced today that they would be laying off 1600 employees, including 1,000 permanent employees. eBay has about 16,000 employees worldwide. This is probably in view of its declining single-digit growth rate of its worldwide marketplaces.
Like I wrote in a previous post, Sellers on eBay across the board have not been too happy with the changes implemented in 2007 - 2008 which drove most veteran Sellers to other online auction marketplaces, some which do not even impose any insertion fee.
This layoff does not mean that eBay is in financial distress because they also at the same time announced the acquisition of three internet companies Bill Me Later and Danish classified advertising companies, Den Bla Avis and BilBasen, with a total of US$1.35 billion.
eBay also disclosed that their online classifieds $260 million in revenue last fiscal year. Now we know why eBay have no qualms listing classifieds on eBay Search results to the point of taking business away from their own paying Sellers.
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One Response to “eBay Slashes Workforce By 10%”
feel sorry for all that will be terminated, anyway, thanks for the info!
By Colin Klinkert on Oct 7, 2008