TulipTools Internet Business Owners and Online Sellers Community

layoff rumors at eBay:

Quote:Barrons cites a Wedge Partners report that "the company's business is "deteriorating" and that the company is readying layoffs that could affect 10% of the company's 15,000 employees."

If there are layoffs, it will be interesting to compare the severance packages of "regular employees" and managers with those of eBay's top executives.

Like many corporate boards, eBay's Board of Directors put into place Golden Parachutes for its top executives. It appears from SEC filings that some top execs will receive two years' target cash compensation, defined as annual base salary plus target annual incentive bonus...

full article: http://blog.auctionbytes.com/cgi-bin/blo...05674.html

The rumors become reality...

Quote: eBay today also announced plans to reduce its global workforce by approximately 10 percent, affecting about 1,000 employees in addition to several hundred temporary workers and the reduction of open positions.

The reduction is expected to result in pretax restructuring charges of approximately $70 million to $80 million, with the charges predominantly recorded in the fourth quarter of 2008. According to the press release, “the global reduction is intended to simplify and streamline eBay’s organization, improve the company’s cost structure and strengthen the overall competitiveness of the company’s existing businesses.”...

full article: http://ebayinkblog.com/2008/10/06/ebay-r...rce-by-10/

Internal email sent by eBay's head BSer Alan Marks to his staff:

http://valleywag.com/5060730/ebay-pr-chi...on-layoffs

An unverified post on the stores board says that ALL customer service personel (pinks) are gone. 

Another one said 19% of overall eBay earnings now come from outside companies' advertising on the eBay site compared with thirty something percent for core.

[quote author=accentnepal link=topic=18430.msg72871#msg72871 date=1223818208]
An unverified post on the stores board says that ALL customer service personel (pinks) are gone.  [/quote]

The stores board pinks left the building during Bush's first administration. :blinkie:

Quote:Another one said 19% of overall eBay earnings now come from outside companies' advertising on the eBay site compared with thirty something percent for core.

19% might explain why eBay is willing to let competing auction sites like Ubid and Bidz advertise on its site.