NEW YORK, Oct 6 (Reuters) - EBay Inc plans to cut its workforce by 10
percent and expects to exceed its third-quarter earnings forecast, the online
auction Web site said on Monday as its shares rose nearly 2 percent in
pre-market trading.
EBay also said it is acquiring the Bill Me Later payments service for
about $820 million in cash and $125 million in options. It is also buying Danish
online classifieds businesses Den Bla Avis and BilBasen for about $390 million.
EBay expects the job cuts would affect about 1,000 employees and several
hundred temporary workers. The reduction is expected to incur restructuring
charges of about $70 million to $80 million, occurring mostly in the fourth
quarter.
For the third quarter, EBay expects to hit the low end of its revenue
forecast and exceed its earnings forecast.
The San Jose, California-based company is scheduled to announce
third-quarter results on Oct. 15.
EBay shares rose to $19.30 in pre-market trading from their close of
$18.94 on Friday.
(Reporting by Martinne Geller; Editing by Derek Caney) See
http://blogs.reuters.com/category/themes/shop-talk/ for "Shop Talk" -- Reuters'
retail and consumer blog. Keywords: EBAY/
Martinne Geller
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