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Big layoffs planned at digital auction giant eBay

NEW YORK (CNNMoney) -- Big layoffs are coming to eBay.

The company is planning to slash 2,400 workers across the eBay and PayPal parts of the business. The cuts will impact 7% of the workforce.

The layoffs will be made before the end of March.

EBay said it was \"simplifying organizational structures\" in its quarterly earnings released Wednesday. A company spokesperson told CNNMoney that some of the cuts were to unfilled positions, but would not say how many.

ebay also said its profit rose 10% last quarter.

In September the company announced that it would be spinning off PayPal, its online payment service. That is expected to take place in the second half of 2015.

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