PayPal is planning to cut as much as 3 percent of its workforce as the payments division of eBay Inc looks to streamline its operations under new President David Marcus, a person familiar with the situation said on Friday.
The reductions are expected to total between 300 and 400 and be focused in product development, technology and marketing, the person said on condition of anonymity because the plans are not public. PayPal (San Jose, USA) has almost 13,000 employees.
The job cuts will be PayPal's first major reductions since the financial crisis in 2008.
MTN Group on Monday confirmed that a U.S. court had put on hold the $4.2 billion lawsuit against it by Turkish rival Turkcell, pending a separate Supreme Court decision.
The Supreme Court had heard oral arguments in a high profile case against Royal Dutch Shell this month, a case which may determine whether foreign corporations can be sued in U.S. courts under an 18th century law.
NTT DoCoMo (Tokyo, Japan) and MasterCard (Purchase, USA) have teamed up on a service that will let the operator’s customers use their smartphones to pay for goods abroad.
The companies plan to expand DoCoMo’s mobile credit payment system to include MasterCard PayPass merchant locations. As of June, there were an estimated 500,000 such locations in 41 countries.
Collaboration with the payment card companies is necessary if operators are to break into the market for international payments, and the industry is likely to see more deals of this nature in the months ahead.
Verizon Wireless (New York, USA) said it is about two months ahead of schedule in its network upgrade as it will have high-speed wireless service in 400 markets by October 18, ahead of its year-end target for this milestone.
Since late 2010, Verizon Wireless, a venture of Verizon Communications and Vodafone Group Plc (Newbury, UK), has been upgrading its network with a high-speed wireless technology known as Long Term Evolution (LTE).
Private-equity group Inverness Graham Investments (Newtown Square, USA) has taken a majority stake in RACO Wireless (Cincinnati, USA) as the M2M specialist reveals its acquisition intentions and predicts a “significant surge” in the growth of the market.
Petabytes of data from entire cities or global deployments of sensors, boiled down into actionable metrics that can produce tangible results. That’s the future of M2M deployments according to Intel, and the chipmaker claims it’s not far away. Rick Lisa, the company’s director of M2M global business development, spoke to a gathering of M2M developers at the Telit DevCon event, held on the eve of the CTIA’s MobileCon show in San Diego.
Cisco (San Jose, USA) is hoping to accelerate the development of smart-grid technology with the launch of a developer program that provides participants with access to tools, resources and go-to-market support.
Called the Connected Grid Cisco Developer Network (CDN), the program allows partners to develop services that can be integrated with Cisco’s GridBlocksTM architecture and Connected Grid solutions to support advanced smart-grid capabilities.
An operator of coin-activated air compressors – used to inflate car tires at filling stations, general stores and other retailers – has successfully been able to retrofit its machines with embedded communications devices, providing the company with a real-time picture of its operations and revenue reconciliation for the first time.
The machine operator shares revenues with the retail hosts, and is convinced that it will be able to land more business by showing its retailers information about revenues and providing an improved service.
Smartphone-wielding Starbucks (Seattle, USA) customers in the United States will get a new way to pay in early November when the world's biggest coffee chain begins accepting Square (San Francisco, USA) Wallet mobile payments at its roughly 7,000 company-operated U.S. stores.
China's top telecoms gear makers should be shut out of the U.S. market as potential Chinese state influence on them poses a security threat, the U.S. House of Representatives' Intelligence Committee said in a draft of a report to be released on Monday.
U.S. intelligence must stay focused on efforts by Huawei Technologies Co Ltd (Shenzhen, China) and ZTE Corp (Shenzhen, China) to expand in the United States, and tell the private sector as much as possible about the purported espionage threat, the panel leaders said, based on their 11-month investigation of the two firms.