According to Valleywag, eBay is going to announce layoffs this Monday or at the latest before the earnings call on the 15th. This comes at no surprise to me as eBay's stock has been tanking as of late(it closed at $18.94 on Friday). I think the consensus among the analysts on Wall Street is that eBay is no longer a growth stock and shouldn't be given the same P/E multiples it enjoyed during its growth phase.
The concerning thing to me about the layoffs is who are they going to cut? Has eBay just decided that "eBay customer service" is an oxymoron and it is not going to employ anymore customer service employees? Or is eBay going to cut its trust and safety department and let fraud run rampant? I guess I will just have to wait and see like everyone else...
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