eBay plans to cut thousands of jobs

YEREVAN, December 11, /ARKA/. eBay Inc. is accelerating plans to split its payment unit PayPal, Prime reports citing the Wall Street Journal.  According to people familiar with inside information, the giant online store is considering trimming its workforce in a process that could affect up to 3,000 personnel.

The layoffs are seen as part of eBay Inc. preparations to be a standalone company after the divestiture of the payment unit. 

The job cuts are expected to result in cost saving synergies that should make the company profitable and a possible takeover target. The spinoff plans of PayPal comes as a surprise as the likes of Amazon, and Apple continue to integrate payment systems into their operations.

The proposed job cuts will be the biggest. The only major cut that the company has undertaken to date is of about 325 positions initiated in 2012. The company is also planning to initiate cost cutting measures in other ways aimed at having an impact on profit margins.-0-