Friday, May 15, 2009

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eBay to Close Vancouver Office; Lay off 700

eBay, the world's leading e-seller, will close its Vancouver, BC office by the end of September, and layoff about 700 people. Work will be transferred to the Salt Lake City office which already employs 900, and elsewhere in the world, in what is called a consolidation of its North American customer service facilities.

eBay, which was founded in 1995 in San Jose, CA and has almost 90 million regular users, has been attempting to cut costs lately. Last month, the company blamed a weak economy for lower earnings and revenue for two successive quarters. eBay earned US$357.1 million in Q1, a decline of 22% compared to the $459.7 million the year previously. Although revenue also declined, it was higher at $2.02 billion than analysts had foreseen. They were predicting revenue in the range of $1.94 billion.

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