eBay to shed 2,400 jobs ahead of PayPal IPO
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New York
E-COMMERCE giant eBay will slash 2,400 jobs - seven per cent of its workforce - in the current quarter as it restructures and prepares to spin off its PayPal finance unit, it said on Wednesday.
California-based eBay unveiled the move even as it announced its profit in the fourth quarter rose 10 per cent to US$936 million on revenues of US$4.9 billion. The job cuts will be across three divisions: Marketplaces, Enterprise and PayPal.
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