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NEW YORK: eBay, the largest online marketplace in the world is planning to slash its global workforce to in a bid to improve the cost structure of the company, say reports. This will include jobs in India too. There are 110 employees with eBay India.
eBay Inc. made it clear on Monday that it will cut about 1,600 jobs, nearly 10 per cent of its work force, in its largest round of dismissals ever.
While nearly 1000 employees will be given pink slip, many temporary and part-time workers will also have to say goodbye. And also the existing positions will remain unfilled.
However, this decision has nothing to do with a weak global economy, said eBay chief executive John Donahoe though eBay shares have come down to a 5-year low.
Earlier this year also the online auction house had slashed the employee strength. The company has about 16,000 permanent staff worldwide.
"The global reduction is intended to simplify and streamline eBay's organization, improve the company's cost structure and strengthen the overall competitiveness of the company's existing businesses," eBay said in a statement.
According to an official of eBay India, the decision to cut short the employee strength is aimed at "long term financial architecture."