Ebay To Cut 1500 Jobs.

[smile]

NEW YORK (Reuters) - U.S. online auctioneer eBay Inc may cut 1,500 jobs, according to an article in Barron's weekly, citing a report published last week by investment-research firm Wedge Partners.

The Wedge report, according to Barron's, said eBay's business was "deteriorating" and the company was readying layoffs that could affect 10 percent of its 15,000 employees.

Wedge Partners and eBay could not immediately be reached for comment.

Link:
Ebay may cut 1,500 jobs: Barron's | Technology | Internet | Reuters

[guitarca18]

Originally Posted by smile

NEW YORK (Reuters) - U.S. online auctioneer eBay Inc may cut 1,500 jobs, according to an article in Barron's weekly, citing a report published last week by investment-research firm Wedge Partners.

The Wedge report, according to Barron's, said eBay's business was "deteriorating" and the company was readying layoffs that could affect 10 percent of its 15,000 employees.

Wedge Partners and eBay could not immediately be reached for comment.

Link:
Ebay may cut 1,500 jobs: Barron's | Technology | Internet | Reuters

Not surprising. Even normal ebayers are unhappy with all the changes that have been made. In an attempt to make the ebay community safer they have essentially made it more difficult for both buyers and sellers..Ughh..Maybe they'll lay off some of the people that are responsible for limiting and making our lives miserable.

[Here We Go Again]

This does not surprise me 1 bit.
They have been going downhill for a few years.
They continually shoot them selves in the foot and then keep on reloading.

[Burst]

Not surprised at all. I dont know when theyre going to wakeup

[Here We Go Again]

Maybe when their stock refuses to take a up turn?
Or maybe when it reaches $5 a share... LOL

[cortex]

I agree with Modee

[smile]

Ebay is like that best friend that stabbed you in the back. You might have them back in your life now but you will never trust them again.

[Exeneva]

I also agree with Modee, but I still think eBay needs to make some changes. I know his position is "who cares as long as I'm fine," but the better eBay does usually means more poeple browsing and buying eBay, which inevitably helps us, regardless of how well we're doing.

[SevnSins]

Hello All,

I am new here, but have read most of what is available here. I too agree with Modee. I managed to get back on eBay myself, and do make a good chuck of money off of them. Now with Modee's help, I'm sure I'll make even more.

I am also making efforts to promote my products to several of the other auction sites I found are free, along with familierizing myself with PHP & SQl to better my own website. Until I am able to make decent money elsewhere, I will have to remain a supporter of eBay.

Thanks,
Sevn:D

[digitaliz]

ebay can and will screw you, the real question is, are you able to do something about it?, now most people who have bought the Stealth Book or who have been around these forums for a while will have no problem getting back selling on ebay, but there are hundreds of people losing their livelihoods every day who are not in a position to do anything about it, it's those people who are really suffering.

[FeeBay Balling]

The issues you have to think about with this are simple, Who will be losing their job? I do not think it can be in the customer service area (although most likely) as ebay has been ripped apart because of it as it was almost nonexistent in the beginning, heck it still seems as there is no one there today. What you have to hope for is that it is some "techie" who is been there from the beginning and then feels pissed off by it. Then hopefully they would like to "vent" their anger on some things, which can open the door to alot of things.

Also, I honestly do not think many people are going to be having their accounts suspended or closed as much if at all in the next year. With the economy going into the crapper and ebay needing to make as much money as they can, they will keep "sellers" around. That being said, Dont think you can go all crazy and think you can get away with murder as you will get kicked, but I think you can sail thru nicely if you play by the rules.

[aspkin]

FeeBay Balling, long time no see. How goes it?

[smile]

From The New York Times

Silicon Valley Layoff Watch: Is eBay Next?

Out-of-work employees at Hewlett-Packard and evaporated investment banks like Lehman Brothers may soon have some company on the unemployment rolls. This week, the chatter among eBay insiders is all about the possibility of mass layoffs.

The talk was sparked Monday by an article in Barron’s, which cited a report by Wedge Partners, a small Colorado investment-research firm. Wedge suggested that eBay was preparing layoffs that could hit up to 10 percent of eBay’s 15,000 employees.

An eBay spokesman said that the company “does not comment on rumors or speculation.” But the Wedge report has the ring of truth. EBay, the leader in online auctions, has been rocked this year by greater-than-usual rancor from sellers in the wake of significant fee changes and stagnant traffic to the site. Many analysts say the San Jose, Calif., company’s third-quarter performance has so far shown little improvement.

A report last week from Jeetil Patel, a Deutsche Bank analyst, also suggested that a decrease in headcount could help offset declining profit from fee changes, flat sales and the negative impact of currency fluctuations on overseas revenue. Mr. Patel lowered his revenue estimate for eBay and said in his report that eBay’s core marketplace “continues to show deteriorating market share trends.”

[Jonas]

eBay's change the the new search listing and making it impossible to browse a category on the old search mean I won't buy from them again. I just hate that new search, new item page, new my ebay, etc. Too unpleasant to use for shopping. I bet the new search has hurt their sales.

[aking]

not surprised, eBay makes it so hard for buyers and sellers to use their system with all the rules and regulations, limitations, etc. I'm sure they are losing a lot of customers who are just fed up with ebay.

Lets hope that some of those 1500 employees come here to "vent" and dispell some ebay secrets!! :D

[ambercolour]

yeah my friend told me this today they are cutting 10% of the staff. I think its a conbination of everything which is suffering ebay and they are gonna kick themselves in the foot.

[Jonas]

I've noticed the amount of sellers and buyers on eBay is decreasing.