The Merc:

eBay has decided to eliminate nearly 300 Bay Area jobs, including more than 200 in San Jose, the company has told a state labor agency.

The job cuts are due to be completed by July 20, eBay stated in notices to the state’s Employment Development Department. Affected employees were notified in the final week of June.

And:

Over the one-year period that ended in March, eBay lost $1.64 billion on revenues of $9.84 billion.

It’s not that people don’t want to buy other people’s stuff. eBay’s core model is still working. The trouble is more their growth areas that overlap with Amazon, Google, and Alibaba. Tough competition.