eBay Is Conducting a 'Mass Layoff' In the Bay Area (mercurynews.com) 102
eBay is planning to slash nearly 300 jobs from Bay Area locations by July 20, calling the cuts a "mass layoff." Those being laid off were informed at the end of June, reports The Mercury News. The San Jose-based company estimated that it would eliminate 224 jobs in San Jose, 41 in San Francisco, and five in Brisbane. From the report: "This action is expected to be permanent," eBay stated in the Employment Development Department filing. "No affected employee has any bumping rights." Over the one-year period that ended in March, eBay lost $1.64 billion on revenues of $9.84 billion, according to information posted on the Yahoo Finance site. During the first quarter that ended March 31, eBay earned $407 million on revenues of $2.58 billion. Compared to the year-ago first quarter, profits were down 60.7 percent and revenue rose 12 percent.