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Mon Oct 6 2008 08:04:42

eBay Lays off 1,000 Employees, Acquires Bill Me Later

By: Ina Steiner

Sponsored Link

eBay is laying off 1,000 employees and is cutting several hundred temporary workers. It is also reducing open positions. "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."

eBay also announced it was acquiring the U.S.-based online payments business Bill Me Later for approximately $820 million in cash and approximately $125 million in outstanding options, and Denmark's online classifieds site dba.dk and vehicles site bilbasen.dk, for approximately $390 million in cash. Details in today's AuctionBytes Newsflash.

eBay is webcasting a conference call at 8:30 am Eastern, we'll update the blog if we learn anything new.




Comments (44) | Permalink

Readers Comments

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: zeak

Mon Oct 6 08:51:37 2008

the pink slappers are getting pink slips does this really matter? rarely do the people that answer the phone have any clue whats going on. on the bright side perhaps i will stop getting those calls on how to improve my performance.

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: ss

Mon Oct 6 08:55:28 2008

Does this mean that Ebays out to lunch customer service will really be out to lunch????? I for one do not feel sorry for any of them. They might as well join the rest of mainstreet america and get in the unemployment line.

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: Peter Leeflang/CEO of Leeflang Archives Corporatio

Mon Oct 6 09:05:04 2008

10% workforce layoff?

I have only question about that.

Will that mean my fees invoice will be lowered?

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: Sid

Mon Oct 6 09:06:13 2008

Temporary employees?  That explains a lot about the crappy customer service and know-nothing bots who answer questions.

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: don

Mon Oct 6 09:08:40 2008

yeah and Meg W is still smiling

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: John

Mon Oct 6 09:11:54 2008

I wonder if Vincy K is one of the marked LH employees receiving a PINKslip

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: RicRoe

Mon Oct 6 09:24:26 2008

It is interesting to see CEO Donahoe's priorities.

First the news leaked that 10% staffing cut was coming soon.

Second, Donahoe hires 2 more stuffed shirts to help him try and bail out from their present course which is fast causing the eBay ship to sink. (Cargil & Andreesson)

Just when you thought there were already too many fat cats suckling from the eBay fee teats, Mr Donahoe goes ahead and loads up on 2 more executives in 2 weeks.

2More executives with bloated salaries, and tremendous golden parachutes which will no doubt be paid should the company maintain its failed course.

Third, who wants to bet that the cuts will hit customer facing divisions the hardest?  eBay already has the worst customer service imaginable, any cuts in divisions that touch customers will only worsen the issues there.

No wonder eBay stock is tanking so badly. This company has the worst leadership imaginable.

Buyers and sellers have been steadily losing trust and confidence in eBay, it appears that investors have given up hope as well.

Last week, eBay hit a new 52 week low, which is the only record they seem to be able to hit lately.

With the Q3 reports due out soon, the company, like its stock seems headed in only one direction, DOWN.

Mr Donahoe, about that noise..... Can you hear us now?

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: Gary

Mon Oct 6 09:27:01 2008

I have met and talked to dozens of eBay employees. Most of them seemed lucky to have a job anywhere. Getting rid of them might help a lot. I even had one of the store "experts" once tell me I needed to sell everything in my store so I wouldn't have so many listings.

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

This user has validated their user name. by: Ming the Merciless

Mon Oct 6 09:54:27 2008

The Donna Ho STILL doesn't get IT babbling on as he does about improving "customer experience" by gobbling up online payment services and reducing support services.

Of course when read in context, it's abundantly clear The Ho is referring to buyer "experience", not improving the seller "experience."

Two more arrogant, overpaid, out of touch suits with absolutely no understanding of how ebay works and therefore will have no idea how to fix it.

Ho's decision tells us even more about his mindset and makes at least one thing virtually certain: another new prescription for failure.

Perhaps the new Ebay will be nothing more than a Super PacMan PayPal after The Donna Ho and his incompetent, arrogant, deceitful management team finish killing ebay and more sellers.

Ebafia: the world's most despicable corporation run by the world's most duplicitous, deceitful, and despicable executives.

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: mula

Mon Oct 6 10:08:08 2008

Wow, with Ebay paying close to a billion for Bill Me Later makes it extremely clear just how profitable the on line payment service business must be.

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: Reality Check

Mon Oct 6 10:18:15 2008

I really hate to see anyone lose their job and have problems supporting their family.
But perhaps finally this might help the eBay exec's may get their collective heads outta their arses.
Every one of us who has used eBay as an income to either make our living from, or to supplement our 9-5 income, knows that eBay has been headed in the wrong direction for several years.
For me it started back when eBay kept telling me for months to 'open a store, ya need to open a store'. It was the only way I was gonna make any real money.
Then as we all know, just a few months after that, eBay removed stores from the search, raised fees on the stores, and from then on it seems, the screwing got worse.
I really do not know if even eBay knows where they are headed. I do know this much though;
I have been in business for myself since way before Al Gore even (supposedly) invented the Internet. I have had employees, vendors, customers, and every single one of the same responsibilities that Donahoe has had running eBay. Just on a smaller scale.
I never would have been in business for 30 years if I had run my company the way he runs eBay.
When you have to lay off 10% of your work force, when your stock drops to the lowest point ever, while part of that may be the problems currently on Wall Street, a majority of the problem is within the company itself.
Until eBay gets it's act together, figures out a direction (preferably one that goes back to the way it USED to be), nothing is gonna get any better for anyone doing business with eBay. Be that doing business as a customer-seller, or as a buyer, employee, or stockholder.

Semper Fi


www.WhiteTigerLLC.com
http://tattoo-gypsy.blogspot.com/
http://www.zazzle.com/WhiteTiger_LLC

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: Lisa

Mon Oct 6 10:21:09 2008

Wait a minute, folks. Exactly how smart is Ebay's decision to buy BillMeLater? This is a company that offers flexible, promotional financing and deferred payments.

WTH, do they even know what's happening in the economy. Are they so clueless? Promotional financing is what got this country in so much trouble. Just proves how out of touch John Donahoe is with reality.

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: Monster

Mon Oct 6 10:33:36 2008

After seeing the John Donahoe interview with Poppy Harlow, I wouldn’t put anything past the management team at eBay. I have studied human behavior for over twenty-five years, and I got a very bad read on Mr. Donahoe during this interview.

I can easily see these greedy egomaniacs laying off 10% of their workforce just so they can have a Q4 that is not in the red.

Donahoe will do anything to make one more quarter. This includes the creation of FP30 for Q3, as well as the WEEK LONG 1¢ Insertion Fee for the last week in March 2008 so they could make Q2.

When Matt Carey, Rajiv Dutta, and Eric Shoup left eBay, the writing was on the wall.

The Emperor Has No Clothes...

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: meme

Mon Oct 6 10:57:23 2008

I am peeved for I feel like I have been laid off and I work for myself (not eBay), a PS with high ratiings.
I got 30 day restriction and can not RELIST jeans (not high end designer) and then a API for NEW listing of T shirts (not high end designer) "to protect the community"?  WHAT ARE THEY THINKING eBay does not issue me a paycheck---I make money for them---and now they want to restrict me?

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: RWK

Mon Oct 6 11:14:32 2008

Put Ebay and all the Bull behind you and start fresh on BONANZLE.

The axed employees should look old Meg W up. She gave them a job once...she ought to be willing to help them out now. They are all in her backyard. After all they were good enough to hire to work for Ebay. They ought to be primed and ready to carry out her next dirty deeds.

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: hey hey

Mon Oct 6 11:30:02 2008

TEE HEE Hard to tell who is going to implore first MCDumb or Ebay.

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: RWK

Mon Oct 6 11:34:39 2008

Before I would start feeling sorry for those that lost their jobs ...I would think more about all the Good sellers that had to close their stores and all the suspended and restricted sellers and the like that lost income and faced financial ruin because of eBay corruption and total disregard for the human element. That 1000 is insignificant to the many 1000's of eBay sellers that have been destroyed and no doubt at many of their hands.

Maybe, there will be less moles here and that's not a bad thing.

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: Dana

Mon Oct 6 11:41:37 2008

Ebay stock is at $17.92, a new 52 week low this Monday morning. I wonder why the stock holders are not screaming at Mr. Hoe for killing off this company. Buying another online payment service? Buying a classified ads service in Denmark? If they are such great investments why is Ebay stock at an all time low? Then there is the scandal of Skype China invading people's privacy and spying on their personal messages. Laying off 1000 people? Adding more worthless executives? For what?

I will not use any company involved with Ebay:
paypal
craigslist
Skype
bilbasen.dk
dba.dk
bil
l
me later

I will just keep the list going. Anyone want to add more companies to avoid that Ebay owns to this list?

Ebay = dead. RIP.

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: RWK

Mon Oct 6 11:46:00 2008

Kijiji is an eBay company. I don't think Craig's list is to happy with eBay.

Go BONANZLE AND GOOGLE CHECKOUT !!!!

eBay Lays off 1,000 Employees, Acquires Bill Me Later   eBay Lays off 1,000 Employees, Acquires Bill Me Later

by: Clara

Mon Oct 6 11:54:56 2008

Bill Me Later allows buyers to pay by sending them paper checks and Money Orders. (How the sellers get the money isn't clear).

So there it is....eBay will now have a way to get a cut of paper payments. The other shoe has dropped. Now it makes perfect sense about the rule of no paper checks or Money Orders, (but leaving open the option if the buyer requests it).

All we can wonder about now is when will the announcement come to tell Sellers that they listened about accepting paper payments! For Buyer and Seller safety and security Bill Me Later will be mandatory if Sellers want to accept paper payments.

We can also wonder about the fee structure. Monthly subscription, fees per check or MO, etc..

Lots of fee options for eBay with Bill Me Later.   Wanna bet that there will be a feature to transfer Seller payments to PayPal for yet another fee?

Is there any party of a selling transaction that eBay has missed to get more fees ?  

Listing, FVF, payment, shipping through PayPal with the labels ?

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