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Carl Icahn
EBay cutting 7 percent of its work force ahead of PayPal spinoff
EBay cutting 7 percent of its work force ahead of PayPal spinoff

EBay plans to cut 2,400 jobs, or 7 percent of its work force, in the first quarter as it prepares to spin off its PayPal business, which employs hundreds in the Baltimore area. The job cuts will fall across its PayPal, marketplaces and enterprise businesses. The company would not disclose how many jobs would be cut from each business unit or geographical region, a spokeswoman said. The online auctioneer employs about 800 people in three locations in the Baltimore area. It built a presence in the region after buying Timonium startup Bill Me Later for $945 million in 2008 and merging it with PayPal. San Jose, California-based eBay is spinning off PayPal into an independent company in the...

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