EBay to Lay Off 1000+ Employees

Ebay announced today that their 3rd quarter results will be lower than expected, and they will be laying off over 1,000 employees. They will also be letting go hundreds of contingent staff (temporary or contract workers) and reducing the number of open positions they are hiring for. The San Jose based company also announced their plans to acquire online payments business Bill Me Later (for $820 million in cash and $125 million in options) and Danish classifieds specialist Den Bla Avis and vehicle site BilBasen (for $390 million in cash).

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