Skip to main content

eBay

(EBAY) - Get eBay Inc. Report

plans to lay off 15% of the employees at its Butterfields auction house, according to reports.

The company, which is based in San Jose, Calif., acquired Butterfields in April 1999 for $260 million in stock in order to break in to the high-end art and collectibles markets.

Scroll to Continue

TheStreet Recommends

eBay will cut 32 out of about 200 positions at Butterfields. Company representatives weren't immediately available for comment.

Shares of eBay were recently down $5.31, or 9.4%, to $51.38 in

Nasdaq

trading.