The San Jose, California-based EBay Inc (NASDAQ:EBAY) will shatter 325 jobs in its PayPal division and take a pretax reorganization charge of $15 million, part of President David Marcus’s attempts to reorganize the payment unit and speed up new products.
EBay reported in a statement on Monday that PayPal was also finishing work arrangements with almost 120 deals globally.
David Marcus’s, who took over in April, is restructuring the payment division, whose around 13,000 workers are competing with startups like Stripe Inc and WePay Inc that have been able to roll out services additional efficiently.
Marcus up to now has consolidated 9 product groups into one and reported a scheme to overhaul offices into an added collaborative environment.
PayPal accounted for 43% of EBay’s revenue previous year, evaluated against the 25% in 2007. While sales moved up 23% to $1.37 billion in the Q3, that gain was below the 32% surge to $1.11 billion during the similar quarter in previous year.
The company reported that total payment volume moved up 20% to $35.2 billion in the quarter finished Sept 30. The unit had 117.4 million users in the three months period, a 14% boost from previous year.
eBay Inc (NASDAQ:EBAY) has market capitalization of 64.07 billion and offered 21.28% Return on equity. The company’s institutional ownership was 81.94% while its price to earnings ratio was 16.90. Company’s net profit margin was 28.52% while gross profit margin was 70.08%. Beta factor was 1.47. The Beta factor, which is used as a measure of a company’s volatility in relation to the market, was 2.44 while the PEG ratio of the company was 1.21.
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