eBay lays off 1,000 workers

Published: October 6th, 2008

Internet giant eBay bid responsibly: in order to afford its purchaseof online shopping credit vendor Bill Me Later, it laid off 1,000workers, comprising 10 per cent of its workforce.

The site will also turf hundreds of temporary workers, and tighten up job openings.

The move will result in $150-million in cost savings, said CEO JohnDonahoe, and “create efficiency,” which is hoped to counteract theweakening economy and dollar.

Bill Me Later went for $820-million in cash, and $125-million inoutstanding options, while eBay also plunked down cash for Danishclassifieds site dba.dk and vehicles site bilbasen.dk to the tuneof $390-million.

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