eBay Lays Off 1,000 as it Acquires

eBay will lay off about 10 per cent of its workforce, the company announced Monday in the US, and said third-quarter results will come in at the low end of expectations. The company also announced plans to acquire online payments business Bill Me Later for US$820 million in cash and approximately US$125 million in outstanding options, as well as Danish classifieds specialist Den Bla Avis and vehicle site BilBasen for approximately US$390 million in cash