SAN JOSE (CBS/AP) — PayPal said it was cutting 325 full-time jobs in a move to streamline the business.

EBay Inc.’s PayPal unit also said Monday that it is ending jobs with about 120 independent contractors worldwide.

The job cuts have been expected and were reported by The Associated Press earlier this month.

PayPal had 3,200 workers before Monday’s cuts.

The company says the cuts are primarily in PayPal’s product and technology organizations.

EBay has its headquarters in San Jose.

(Copyright 2012 by CBS San Francisco. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)



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