SAN FRANCISCO - eBay's ( EBAY) attempts to win back the hearts and minds of its buyers and sellers may not see results anytime soon. Investors might be waiting a while, too. Last week, the online auction site said it would slash 1,600 jobs at the same time it announced that it would hit the lower end of its third-quarter revenue forecast of $2.1 billion to $2.15 billion. While eBay also expects to beat its earnings forecast of 39 cents to 41 cents a share when it reports results Wednesday, that may not be enough to placate shareholders. Citigroup analyst Mark Mahaney has noted that this will be the first time in five years that eBay hasn't come in above its midpoint revenue guidance. The job cuts also are unusual, representative of what Mahaney says are "the challenges the company is facing." Indeed, eBay's stock has been taking a beating recently on concerns over its stagnant growth, as well as its inability to effectively compete against rival Amazon ( AMZN) using its auction-style marketplace for buyers and sellers. Shares of eBay have plunged 56% from their 52-week high, and although the market has been brutal on tech stocks in recent weeks, investors seem particularly down on eBay. The need to shake up the business isn't lost on Chief Executive John Donahoe, who has been increasingly shifting the site toward fixed-price selling and away from auctions. In August, he announced that eBay would cut fixed-price listing fees by 70% in an effort to draw more sellers to the site. The fee changes took effect on Sept. 16.