eBay to Cut 1,000 Jobs, Beef up Billing, Classifieds

Susan Hall

Online auction eBay announced Monday it will reduce its staff by 10 percent -- about 1,000 jobs -- and said its third-quarter performance will come in at the low end of projections, reports CNET News.


At the same time, it is buying three companies to help with online payments and classifieds, reports Reuters. It plans to buy the Bill Me Later payments service for about $820 million in cash and $125 million in options, and Danish classifieds company Den Bla Avis and vehicle site BilBasen for approximately $390 million in cash.

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