eBay Announces Lay Off of 10 Percent

According to an article on the New York Times.com Technology page, eBay "is both tightening its belt and expanding its reach in preparation for the coming economic storm."

On Monday, eBay announced it would lay off 10 percent of its 16,000 workers, including 1,000 permanent employees, and pay $1.35 billion to acquire the Web payment firm Bill Me Later and the Danish classified advertising companies Den Bla Avis and BilBasen.

You can read the full article here, EBay Trims Its Work Force And Makes Acquisitions.