Bill Me Later
It looks like eBay is about to undergo some major changes. This morning comes word that eBay is looking to cut 10% of its global workforce.
“The world’s largest auction Web site, eBay Inc., announced Monday that it will cut 10% of its global workforce, or about 1,000 employees, citing efforts to streamline its business.”
“While never an easy decision to make, these reductions will help improve our operations and strengthen our ability to continue investing in growth,” John Donahoe, eBay’s president and chief executive officer, said in a statement.
Are times getting tough for eBay, or are they just looking to become more profitable. I’m guessing it’s the latter of the two based on the fact that they have also announced that they are acquiring the Maryland-based company, Bill Me Later.
Despite their recent changes and the fact that their stock just hit a five-year low, things seem to be going pretty well for ebay. Their third-quarter revenue is expected to be around $2.1 billion…much like my own (not!).
With the credit crunch in full swing, I guess not even the biggest of the dot coms are immune to some changes.
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