Ebay CEO Jamie Iannone’s message to workers on job cuts filed in a regulatory filing today.

• “Over the next 24 hours, we’ll be letting approximately 500 employees globally know that their jobs will be eliminated,” Iannone said in the message
• Iannone says action “help us make sure we’re concentrating on where we can make the biggest impact, including expanding Focus Categories,” adding, “We’re also simplifying our structure to make decisions more effectively and with more speed.”

NOTE

• EBay Inc. rose 0.9% in postmarket trading to $50.60 as of 5:12 p.m. New York time
  • The average 12-month price target of $47.31 ...
    
    
    
    
    
    
    
    

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