eBay has announced plans to cut 2400 jobs amounting to seven per cent of its workforce as it readies itself to spin off its PayPal operation. The announcement was made as the online giant announced an increase in its profits for the fourth quarter which came in at US $936 million on sales of US $4.9 billion. The job cuts will affect all three eBay divisions – Marketplaces, Enterprise and Paypal. Plans are also in place to sell off its Enterprise division to enable it to continue as an independent company. As we published we had yet to hear how these announcements might affect eBay employees in the UK & Europe.
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