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eBay plans to lay off about 10 percent of its 15,000 employees, reports Barrons.
The online auction house, once an e-business darling, took tough blows this year, writes MarketingVOX: a public lawsuit with craigslist, a boycott spearheaded by its own Power Sellers, a counterfeit goods lawsuit that fell in favor of luxury retailers, and the death of its TV advertising marketplace.
A number of key execs also left after the January departure of CEO Meg Whitman: president Rajiv Dutta of Paypal, and venture capitalist Bob Kagle of Benchmark, who sat on eBay’s board since its birth.
For executives that stayed and must now face the auction gavel, eBay’s golden parachutes should ease the blow. SEC filings report some will receive two years’ target cash compensation (annual base salary plus a target annual incentive bonus — usually 100 percent of salary, making the package equivalent to four years of compensation).
Whitman is on the payroll until year’s end. She also gets office space, IT and secretarial support for three additional years and will remain on the board until 2010. In what the WebGuild identifies as a stroke of irony, the former eBay CEO is currently advising on the Presidential campaign of Sen. John McCain, whose platform advocates jobs for more Americans. Layoffs at eBay peddle a conflicting message.
Though off-air online and experiential advertising grew modestly as a part of the overall radio revenue pie, and election-related political ads increased in Q3, total radio ad revenues were down 9% to $4.97 billion for Q3 and down 10% for…
Only 28% of the audience of an average news program, website or magazine gets valuable information about products and services advertised there, making news venues less effective at conveying ad messages than all forms of media combined (see chart), according…
Target is one of the first brands to create an iPhone application. The Target “gift globe” allows iPhone users to shake their phones to launch a snow-fall effect.
When the snow clears, a gift idea from Target is revealed. Users…
Publicis has acquired full-service agency W&K Communications, continuing its Asia expansion that began several years ago.
W&K will be pulled under the umbrella of Publicis’s Burnett agency network, and will be renamed Leo Burnett Beijing Advertising, writes Adweek.
Other recent Publicis…
Conde Nast is removing Flip.com as an applicationon Facebook come Dec. 16. The website will also be shut down.
Flip launched in 2007 as an online scrapbooking site, reaching 300,000 users. But it failed to sustain the growth Conde Nast…
Effective immediately, any telemarketing call that delivers a prerecorded message must include a quick and easy way to opt-out of receiving future calls. The opt-out must work both for consumers who answer these calls in person and for those whose…
