January 18, 2002 4:15 PM PST
eBay's Butterfields cuts staff
Despite posting record revenue and earnings overall on Tuesday, eBay reported that sales in its offline units, including Butterfields, dropped from $10.8 million in the fourth quarter of 2000 to $7.8 million in the fourth quarter of 2001. The job cuts were a result of a re-evaluation and restructuring of Butterfields' business following the economic downturn, Pursglove said. Butterfields cut 15 percent of its staff in November 2000.