EBay to cut 325 jobs at its PayPal unit - MarketWatch
EBay Inc.
EBAY
+2.42%
on Monday announced a restructuring at its PayPal online payments
business that includes the cutting of 325 jobs. In a statement, eBay
said the majority of the job cuts would be made in PayPal's product and
technology operations. "The reduction results from a redesign of
PayPal's product organization, consolidating nine product groups into a
single, more agile organization," eBay said. EBay will also end
contracts with 120 contractors around the world, and the cuts would
result in a pre-tax charge of about $15 million in the fourth quarter.
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