EBay to axe 10% of global workforce

EBay is planning to cut 10% of its global workforce as part of a major cost-cutting measure. The online auction business is looking to save $150m (£85m) a year to combat declining sales.

The company wide restructure, which will see around 1,000 axed, is believed to be part of the chief executive, John Donahoe’s efforts to sharpen both its operations and strategic focus.

It is not yet clear where or when the job cuts will take effect, with management discussions currently underway.

Three months ago, eBay recorded its slowest sales growth since it went public a decade ago.

The job cuts come despite eBay’s announcement that it plans to acquire two Danish classified ad websites for $1.3bn (£650m). It recently acquired US payment service Bill Me Later for $945m (£545m).

EBay has also announced the $390m (£225m) cash acquisition of Denmark’s leading classified advertising site, dba.dk, and vehicles site, bilbasen.dk. They will join its existing portfolio which includes the eBay auction website, PayPal and Skype.

Earlier this year, eBay set up a UK call-centre service to provide assistance to its frequent user base.

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here