22 January 2015 (12:02 UTC-07 Tango)/01 Rabi ‘ath-Thani 1436/02 Bahman 1393/03 Yi-Chou (12th month) 4712
More proof it’s not the internet killing off brick-n-mortars! News out of California saying massive job cuts and company destruction involving internet auction and selling site ebay.
Local San Jose news sources report that ebay administrators have confirmed they will sell off their PayPal ops, resulting in at least 2-thousand 4-hundred people becoming jobless! The sale of PayPal is being pushed by ‘activist’ (more like vulture capitalist) investors who now control most of ebay’s stock.
Not only that, but ebay will further split into two units (confirming what I reported at the end of last year), which will most likely result in even more job destruction. Company administrators are blaming last year’s cyber attack: “ebay’s loyal customers are back, but our more occasional customers have not returned.”-John Donahoe, ceo
However, I know that ebay has also been suffering from declining revenues caused by a reduction in users, because I’m a struggling long time seller on ebay.
It also doesn’t help that in 2013 the USPS jacked up international shipping rates by 60%, totally killing off my ebay auctions for 2013, since 90% of my sales were international!
ebay shutting down after Xmas?
ebay….build World’s largest data collection spy center system in Utah!
Obama regime uses their 2011 financing executive order to seize ebay linked PayPal accounts!
eBay striking it rich in China?