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| EBAY > SEC Filings for EBAY > Form 8-K on 6-Oct-2008 | All Recent SEC Filings |
6-Oct-2008
Results of Operations and Financial Condition, Costs Associated with Exit or Disposal Ac
The information in Item 2.02 of this Form 8-K is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), and is not to be incorporated by reference into any filing by eBay Inc. under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language contained in such filing.
On October 6, 2008, eBay Inc. (the "Company") announced certain preliminary financial results for the quarter ended September 30, 2008. A copy of the Company's press release announcing this information and certain other information is attached as Exhibit 99.1 to this filing.
This current report contains forward-looking statements relating to the Company's future performance. The Company's actual results could differ materially from those predicted and reported results should not be considered as an indication of future performance. A more thorough discussion of certain factors that may affect eBay's actual results is included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in eBay's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
On October 6, 2008, eBay Inc. (the "Company") announced that it plans to implement a strategic reduction of its existing global workforce designed to simplify and streamline its organization and strengthen the overall competitiveness of its existing businesses. As a result, the Company expects to reduce the size of its global workforce by approximately 1,000 employees worldwide. The reduction is expected to be substantially completed by the end of the first quarter of 2009.
In connection with the global workforce reduction, the Company expects to incur pre-tax restructuring charges of approximately $70 million to $80 million primarily for employee related costs. The Company expects $60 million to $70 million of these charges to be recorded in the fourth quarter of 2008. Substantially all of these charges will result in cash expenditures. A copy of the Company's press release announcing this information and certain other information is attached as Exhibit 99.1 to this filing.
On October 6, 2008, eBay Inc. (the "Company") issued a press release indicating that it had agreed to acquire Bill Me Later, Inc., a leading provider of online credit, and had acquired Den Blå Avis and BilBasen, providers of leading online classifieds sites in Denmark. A copy of the Company's press release announcing these acquisitions and certain other information is attached as Exhibit 99.1 to this filing. For more information on the Company's agreement to acquire Bill Me Later, Inc., please refer to the copy of the Company's press release attached as Exhibit 99.2 to this filing. For more information on the Company's acquisition of Den Blå Avis and BilBasen, please refer to the copy of the Company's press release attached as Exhibit 99.3 to this filing.
The following exhibit is furnished with this report on Form 8-K:
Exhibit 99.1 - Press release dated October 6, 2008. Exhibit 99.2 - Press release dated October 6, 2008. Exhibit 99.3 - Press release dated October 6, 2008.
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