Thursday, March 20, 2008

eBay Restructures - Layoffs Amount to Less than 1% of Global Workforce

According to Reuters, "EBay Inc. is restructuring its operations worldwide which will lead to a small cut in global staffing levels but with some countries hit harder than others, a company spokeswoman said on Thursday.

"It's less than 1 percent globally," Sravanthi Agrawal told Reuters, adding the main regions and countries affected by the online auctioneer's job cuts were in North America, Belgium, Spain and Austria.

"We shared the news with the employees internally," she said, adding the company had not yet made an announcement to the media.

"It's a globalization and centralization effort." EBay's restructuring was aimed at refocusing on its core business, Agrawal said. "

We first heard rumors of job cuts from Valleywag on Tues. and since then I've heard that several US Marketplace Vice Presidents and some Directors were part of the restructuring. The cuts also affected PayPal, where it is rumored that the Branding department was restructured.

eBay has over 15,000 employees worldwide, so if the number is less than 1% it is certainly not a significant number, but I have heard that some of those that have lost their job are long-time "True Blue" eBay execs. I have also heard that there may be additional cuts before the end of the month. It looks like John Donahoe is putting his stamp on the company and doing it all before Meg leaves so he can start his official tenure with a clean slate.

Over the last few months I have heard from other companies in the Bay Area, that they have seen a huge increase in resumes coming from eBay employees. So maybe the number of employees that are voluntarily leaving has allowed them to keep the cuts small.

If you check the eBay job board, many of the open positions for eBay are for summer interns. StubHub is still hiring though

UPDATE: Here is the official announcement from eBay.
Just my 12%

1 comment:

Chetan said...

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