Activist investors force eBay’s hand in shakeup

Tech giant announces 2,400 global job cuts despite reporting an increase in earnings

25th January, 2015
6
Carl Icahn is putting eBay under pressure Picture: Bloomberg News

‘It’s going to get a little bit worse before it gets better.” Those were the words of Bob Swan, eBay’s chief financial officer, last week as his company faced up to a new and harsh reality.

The firm is planning to cut 7 per cent of its global workforce, around 2,400 jobs, as it seeks to reinvent itself with activist investors demanding more from the e-commerce and payments platform,...

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