On Air Now

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 1330 AM Sheboygan, WI

Weather

Current Conditions(Sheboygan,WI 53081)

More Weather »
57° Feels Like: 57°
Wind: S 5 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Mostly Clear 51°

Tomorrow

Partly Cloudy/Wind 67°

Fri Night

Thunderstorms 61°

Alerts

Breaking News

Travis Tramte has been found guilty of reckless homicide in the heroin overdose death of Kathryn Jakimczyk of July of 2013.

SHEBOYGAN, WI (WHBL) - Travis Tramte was found guilty Thursday of reckless homicide in the heroin overdose death of Kathryn Jakimczyk.  It took a jury over two hours to make their decision Thursday afternoon after hearing two days of testimony in Sheboygan County Court. Prosecutors said Tramte supplied Jakimczyk with the heroin that she injected at her North 9th Street apartment back in July of 2013 that led to her death.  Tramte’s lawyer tried to prove that there was other e...

Read More »

PayPal plans first job cuts since 2008 financial crisis

Visitors walk past an Ebay and PayPal banner at the Mobile World Congress in Barcelona February 28, 2012. REUTERS/Albert Gea
Visitors walk past an Ebay and PayPal banner at the Mobile World Congress in Barcelona February 28, 2012. REUTERS/Albert Gea

By Alistair Barr

SAN FRANCISCO (Reuters) - PayPal is planning to cut as much as 3 percent of its workforce as the payments division of eBay Inc looks to streamline its operations under new President David Marcus, a person familiar with the situation said on Friday.

The reductions are expected to total between 300 and 400 and be focused in product development, technology and marketing, the person said on condition of anonymity because the plans are not public. PayPal has almost 13,000 employees.

The job cuts will be PayPal's first major reductions since the financial crisis in 2008.

Marcus became president of PayPal earlier this year after eBay acquired Zong, the mobile payments start-up he ran.

Since taking over, Marcus has been trying to shift PayPal's focus more to the consumer. He has also been working to speed up the product development process, which has become bogged down in lengthy procedures in recent years.

"We have told PayPal employees about plans under way to strengthen and simplify how we create and deliver consistently great products and brand experiences to our customers," a PayPal spokesman said in a statement emailed to Reuters.

He declined to comment on how such plans may affect jobs at the company.

In the last few years, PayPal has spent a lot of money to develop new products and buy up companies, hurting margins, Gil Luria, a managing director with Wedbush Securities told Reuters.

"Now that products such as the mobile wallet are ready to be introduced, looks like they are ready to tighten up and let margins go up from here," Luria said.

PayPal's plans for job cuts were reported earlier on Friday by Bloomberg News.

(Reporting by Alistair Barr, additional writing by Phil Wahba; Editing by Jan Paschal, Bernard Orr)

Comments