je.st
news
Ebay to cut 2,400 jobs, sell Enterprise division
2015-01-22 09:06:00| Telecompaper Headlines
(Telecompaper) Ebay announced plans to cut 2,400 jobs in the first quarter, as it prepares for more changes in its structure. This is equal to around 7 percent of its workforce. In addition to the planned spin-off of PayPal in the second half of this year, the company said it now plans also to sell or list on the stock market its unit eBay Enterprise. Ebay said the business has limited synergies with its other activities. The company also announced a standstill agreement with investor Carl Icahn, the company's largest active shareholder. The agreement appoints Icahn Capital executive Jonathan Christodoro to eBay's board of directors. Wall Street executives Frank Yeary and Perry Traquina were also named to eBay's board. The changes came alongside fourth-quarter results showing eBay's revenues up 9 percent to USD 4.92 billion, and net profit up 10 percent to USD 936 million.
Tags: jobs
sell
ebay
cut
Category:Telecommunications