Ebay Inc.'s PayPal to cut 325 jobs as Internet-based looks to simplify and speed processes
Photographer: AP Graphics Bank
Posted: 10/29/2012
NEW YORK - PayPal says it is cutting 325 full-time jobs in a move to streamline the business.
EBay Inc.'s PayPal unit also said Monday that it is ending jobs with about 120 independent contractors worldwide.
The job cuts have been expected and were reported by The Associated Press earlier this month.
PayPal had nearly 13,000 workers before Monday's cuts.
The company says that the cuts are primarily in PayPal's product and technology organizations. PayPal says it wants to simplify and speed up how products are developed.
EBay has its headquarters in San Jose, Calif.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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