EBay Inc. will cut 10% of jobs as sales growth slows and competition intensifies, reports Bloomberg News.

EBay also said it will acquire online-payment service Bill Me Later for $945 million in cash and outstanding options, and two Danish classified Web sites for 2.1 billion kroner ($390 million) in cash.

The firings will affect 1,000 employees and several hundred temporary workers, the world's largest Internet auctioneer said in a statement.

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