eBay incurs $26 million in severance, other costs on restructuring

19 Nov, 2013

New York: E-commerce major eBay has said it incurred about $ 26 million in severance and other costs related to the company's restructuring efforts, which included reducing its global workforce by about 900 people.

The US-based company had implemented a global restructuring plan, which included reducing its global workforce by about 600 employees and 300 contractors and other activities like the closing down certain facilities and asset impairments.

"In connection with the plan, we have incurred aggregate charges of approximately $ 26 million as of September 30, 2013, related primarily to severance and benefits, including net credits of $ 4 million incurred in the nine months ended September 30, 2013," eBay said in a US Securities and Exchange Commission (SEC) filing yesterday.

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http://www.nasdaq.com/symbol/ebay/sec-filings