11 December 2014 (15:17 UTC-07 Tango)/18 Safar 1436/20 Azar 1393/20 Bing-Zi 4712

“There will be changes; there will be significant changes.”-Devin Wenig, current ebay president

Reports that iconic internet selling venue ebay is killing off 3-thousand jobs beginning right after xmas!

(by the way, the new ‘official’ corporate way to spell ebay is all lower case)

ebay Administrators say it’s part of their plan to spinoff PayPal as a separate company.  But could it be the fact that sales have been crashing?  When sibling companies are spunoff it’s a sign that at least one of them is in trouble (like Lands’ End from Sears).

ebay administrators admitted that their sales-auctions are so low that they account for less than a third of the money transactions on PayPal!   There are also rumors that once PayPal is spunoff from ebay that ebay will be carved up and sold off.

ebay has already laid off dozens of employees with its Magento software unit, and 100 people were let go at ebay’s StubHub ticket seller.  In 2012, PayPal laid off more than 300 employees!

ebay is so desperate they are now working with traditional brick-n-mortar stores as a clearing house operation.

Toy R Us shutting down after Xmas?