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Wednesday, December 10, 2014

Ebay considering cutting 10 percent of workforce - WSJ, (NASDAQ: EBAY)

Online retailer eBay Inc is mulling over a plan to cut thousands of jobs early next year, as it readies to spin off its PayPal unit, the Wall Street Journal reported, citing people familiar with the company's thinking. "We are focused on running the business and setting eBay and PayPal up for success as independent companies," eBay spokeswoman Amanda Miller said, declining to specifically comment on whether the company was considering layoffs.Ebay is considering eliminating almost 10 percent of its workforce, or about 3,000 employees, the WSJ cited one source as saying. ( cuts are expected to be localized in the company's marketplace division, the report said.The spin-off, announced in September, highlighted the slowing growth of eBay's traditional marketplace business.

eBay Inc., is a global technology company. The Company enables commerce through three reportable segments: Marketplaces, Payments, and GSI. Shares of EBAY fell by 0.23% or $-0.13/share to $55.27. In the past year, the shares have traded as low as $46.34 and as high as $59.70. On average, 11737100 shares of EBAY exchange hands on a given day and today's volume is recorded at 16263691.