It has been reported that online giant eBay is to axe 2,400 jobs in the first quarter, which equates to 7% of its workforce. These cuts will be across eBay Marketplaces, PayPal and eBay Enterprise units.
In a statement eBay said it wanted to refocus the businesses and ensure it was "set-up to compete and win".
Carl Icahn, the billionaire investor, has made an agreement with eBay to give a greater say in its PayPal business.
Because of the disruption, the company revised its expectations for revenue as well as earnings per share downwards. It now expects revenue to hit between $4.35 billion (£2.87 billion) to $4.45 billion meaning it will miss analysts expectations. However in the fourth quarter profit rose to $936 million and revenue rose to $4.9 billion sending the company shares up 2.6%.
