View the full EBAY chart at Wikinvest The online auction site may cut 1,500 jobs from its workforce, according to an article in Barron’s Weekly citing a report from investment-research firm Wedge Partners.
If true, the move will eliminate 10 percent of its 15,000 employees.
"We don’t have a handle on how much of the slowdown is due to economic conditions and how much is due to competition and execution, but we do believe a decline in these key metrics presents continued risk for the company," say Wedge analysts.
EBay is in the middle of multiple lawsuits, including a heated back and forth battle that started earlier this year with Craigslist. The firm also says that a new search on the site is scheduled to roll out soon, and its effectiveness is "a key factor in eBay’s success."
EBay may cut 1,500 jobs: Barron’s [Reuters]
