Ebay has decided to lay off 1,000 employees which is a 10% cut from it’s existing number of employees. Besides cutting employee number eBay today also announced the acquisition of two new businesses : Bill Me Later (for $820 Million in Cash and $125 Million in Options) and two online classified sites based in Denmark for approximately $390 million. Bill Me Later seems to be a smart addition to their existing business as it should be a good compliment to Paypal, eBay’s online payment portal.
The rumors also say that eBay is trying to sell StumbleUpon which they acquired for a whooping $75 million in 2007. With all the recent changes it sure looks like a possibility.
Please follow the link to read eBay’s announcement regarding employee layoffs and their recent acquisitions : Official announcement.
[ source : Wired ]
About the author: Jason Drohn is a social media strategist and web publisher who loves teaching people how to build successful businesses and blogs online. Follow him on Twitter to find out more!
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