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eBay Plans To Cut 2,400 Jobs

JILLIAN D'ONFROJan 22, 2015, 02:58 IST

eBay just released its Q4 earnings and announced it plans to cut 2,400 jobs to simplify its organizational structure. That's about 7% of its total workforce across eBay and PayPal.

The cut wasn't unexpected. It comes following the company's decision, announced in September, to spin off PayPal to give each company a sharper focus.

This will be the largest cut at eBay in many years (blowing past the 325-person cut from PayPal back in 2012).

The company reported revenue of $4.92 billion and net income of $936 million, or $0.75 per share.

Developing.