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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.
they're practically a bookie. They don't operate much of anything, they're a middle man. And they take 8-15% of gross. Are they losing that much to fraud? They don't have any crazy tech initiatives, and they sold off Paypal. They had almost $10 billion in revenue and spent $11 billion. What the devil did they do with all that money?
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probably from all their desperate sales to bring shoppers back. There doesn't seem to be a week that goes buy without ebay subsidising a sale for one large vendor or another with 20% discounts. I am guessing a lot of people are sick of the scammers, the overpriced items and are simply more aware of the alternatives out their. hell 90% of the shit on ebay (and amazon for that matter) is just Aliexpress stuff with 500% markup in price.