eBay readies axe for Ibazar

Acquisition results in two people for one role...

Internet auction site eBay has confirmed that it is considering job cuts at its European online trading company, Ibazar. eBay made a filing with the Securities and Exchange Commission on Monday, estimating at $2m the potential cost of redundancies. The company today insisted, however, that any layoffs would be due to the duplication of roles resulting from eBay's March acquisition of Ibazar, rather than accounting procedures as suggested in the media this week. A spokesman also said that the company would be seeking to relocate any staff affected and that negotiations are in the early stages.