eBay Printing 125 Pink Slips
With the stock market swinging a couple of percentage points up or down every day, connecting price changes to corporate movements is difficult. eBay is beating the average, however, following news that it will lay off 125 people.
Some onlookers will point to the recession we’re likely sitting in as a reason for the cut; others may attribute this to the rash of protests and boycotts angry sellers orchestrated. Corporate spokesman Jose Mallabo made things sound rather less exciting.
“We are still hiring for positions to support those business priorities and have redeployed hundreds of current staff in new roles; but globally 125 people will be leaving our work force of 15,500 – less than half a percentage point,” he told Elinor Mills.
Call the cuts a small reorganization, then, and not a significant event. Although you can also call Mallabo’s math crappy – according to a calculator, 125 is 0.81 percent of the employee total he gave.
Meh. Either way, it appears that eBay’s still in relatively solid shape as John Donohoe prepares to take over for CEO Meg Whitman.