EBay cuts’ impact in Ireland unclear

Online marketplace eBay is to cut 2,400 jobs globally, with the impact on its thousands of workers in Ireland as yet unclear.

The internet giant yesterday declined to elaborate on the planned job cuts and whether or not the company’s approximately 2,500 workers will be affected.

The company last year announced plans to hire an additional 400 staff at its facility in Dundalk, where part of its Irish workforce are based, in addition to its Irish headquarters in Blanchardstown.

EBay said it will be simplifying its organisational structures to focus the business and ensure it is best equipped to “compete and win”.

In presenting its fourth quarter earnings, eBay also said it is exploring strategic options, including a possible sale or IPO, with analysts citing Google, Amazon, and Chinese e-commerce powerhouse Alibaba as potential buyers.

In addition to announcing the reduction of its global workforce, eBay also outlined an agreement with investor Carl Icahn — the company’s largest active shareholder.

The “standstill agreement” will also see Icahn Capital executive Jonathan Christodoro appointed to eBay’s board of directors, with Icahn given the power to decide which company board Christodoro serves on once the previously announced split of eBay and PayPal takes place in the second half of the year.

The agreement will also see PayPal adopt certain corporate governance provisions as an independent company giving shareholders a larger say in the running of the business at the time of its spin-off.