(creepy photo from Linda Gavin’s photostream on Flickr, its a little out of date, but im sure the sentiments above are echoed by the ones who got laid off) 

This is the latest in a series of revamping measures taken on by ebay. Some of you might have heard or are aware of ebays changes to it’s marketplace regulations designed to bring in more people to the ebay trading platform (but pissed off some existing ones). Anyway, now it’s gone internal. These 1600 jobs (1000 of these were fulltime employees) come from all over the world including their san jose HQ. They are expecting about $80M in costs to let these guys go and about $150M in cost savings every year. sure they are.. 

They claim to want to use the cash saved to reinvest in growth areas like Paypal, which they recently bolstered their position with an aquisition of a company called www.billmelater.com. Billmelater consolidates your shopping expenses and sends you a bill at the end of the month. Its kinda cool really. but another story for another time.