eBay Reportedly Considering Massive Layoffs Ahead of PayPal Split

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EBay is reportedly considering a plan to lay off as much as 10% of its workforce in anticipation of the company’s planned separation with PayPal, company insiders told the Wall Street Journal.

Unnamed sources familiar with the plan told the Journal that management has been discussing layoffs for upwards of 3,000 employees, particularly within the company’s marketplace division.

The Journal’s report comes just three months after eBay announced it would split its online marketplace from PayPal by mid-2015. Ebay first acquired PayPal, an online payment processing service, in 2002 for $1.5 billion. While it once made sense to pair an online auction house with a payments company, some investors and outsiders called for a split long before the official announcement so the two companies can better focus on their core products.

Read more at the Wall Street Journal.

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