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eBay Is Conducting a 'Mass Layoff' In the Bay Area (mercurynews.com)
eBay is planning to slash nearly 300 jobs from Bay Area locations by July 20, calling the cuts a "mass layoff." Those being laid off were informed at the end of June, reports The Mercury News. The San Jose-based company estimated that it would eliminate 224 jobs in San Jose, 41 in San Francisco, and five in Brisbane. From the report: "This action is expected to be permanent," eBay stated in the Employment Development Department filing. "No affected employee has any bumping rights." Over the one-year period that ended in March, eBay lost $1.64 billion on revenues of $9.84 billion, according to information posted on the Yahoo Finance site. During the first quarter that ended March 31, eBay earned $407 million on revenues of $2.58 billion. Compared to the year-ago first quarter, profits were down 60.7 percent and revenue rose 12 percent.
I stopped using eBay years back because of Amazon but Amazon's been pissing me off so much the last few years I'm starting to check eBay more and more again. Amazon can't even figure out how to ship a ****ing book anymore. I've had several expensive paperbacks ruined (covers ripped off) because Amazon just throws them in a box without so much as adding packing. Back in the day even if it was a ten dollar book they'd shrink wrap it to cardboard for protection but doing that these days cuts too much into Bezos profit I guess. How else would Bezos fund his private rain forest? Bill Gates has an island sure but at least he's quiet about that stuff.
And what the fuck is a Bumping Right?
It's when an employee has some kind of tenure with the company, so that they can take another's job, and that other person gets laid off.