eBay just released its fourth-quarter earnings and announced it plans to cut 2,400 jobs to simplify its organizational structure. That's about 7% of its total workforce across eBay and PayPal.
The cut wasn't unexpected. It comes following the company's decision, announced in September, to spin off PayPal in 2015 to give each company a sharper focus.
This will be the largest cut at eBay in many years, blowing past the 325-person cut from PayPal back in 2012.
The company reported revenue of $4.92 billion and net income of $936 million, or 75 cents per share.
It also reported that it was considering a sale or initial public offering of eBay Enterprise, which helps third parties run their online-shopping sites.
The company's stock is up about 2.3%.
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