Ebay to lay off more than 200 workers

Credit: DaytonDailyNews

Caption
Here are some tips from experts Only sell valuable stuff Understand the fees Avoid the scams Optimize your title Take great photos Don't try to profit from shipping charges

Credit: DaytonDailyNews

Ebay will permanently lay off 274 workers, according to plans filed with the State of California Employment Development Department.

While Ebay reported a 9 percent increase in revenue this quarter, the business also saw a rise in operating expenses. GAAP operating margin in the quarter fell to 15.4 percent, compared to 19.8 percent for the same period last year, and non-GAAP operating margin fell to 25.2 percent, compared to 26.4 percent for the year-ago period, according to a company press release.

The company also announced its intent to sell its holdings in Flipkart, which will represent gross proceeds of approximately $1.1 billion. Following the close of the transaction, eBay will end its current strategic relationship with Flipkart.