PayPal to cut 325 full-time jobs

PayPal to cut 325 full-time jobs

Credit: Getty Images

KLEINMACHNOW - DECEMBER 17: A sign for Internet payment transaction portal PayPal stands outside the eBay Germany headquarters on December 17, 2009 in Kleinmachnow, Germany. The German service industry labour union ver.di has announced that eBay is to fire 400 of the 630 employees at the Kleinmachnow center. PayPal belongs to eBay. (Photo by Sean Gallup/Getty Images)

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KMOV.com

Posted on October 29, 2012 at 12:09 PM

NEW YORK (AP) -- PayPal says it is cutting 325 full-time jobs in a move to streamline the business.

   EBay Inc.'s PayPal unit also said Monday that it is ending jobs with about 120 independent contractors worldwide.

   The job cuts have been expected and were reported by The Associated Press earlier this month.

   PayPal had nearly 13,000 workers before Monday's cuts.

   The company says that the cuts are primarily in PayPal's product and technology organizations. PayPal says it wants to simplify and speed up how products are developed.

   EBay has its headquarters in San Jose, Calif.
 

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