After handing Ireland an enormous bailout by creating over 1,000 new jobs less than a year ago, it looks as Ireland is once again the beneficiary of hundreds of new jobs.
eBay Inc. recently announced it would hire an additional 450 employees for its company in Ireland to try and battle the countries devastating unemployment rate. This announcement comes less than a year after the company hired 1,000 other employees for its payment service PayPal.
"This new announcement is exceptional news for Ireland," Prime Minister Enda Kenny said in a statement.
Ireland continues to carry the highest unemployment rate across Europe at over 14 percent. eBay has certainly done its part to try and turn the tough economy around, but it wasn’t enough to stop the Irish from taking out a $114 billion bailout. It is expected however for Ireland to emerge from that bailout by the end of 2013.
Although the economic times seem to be in turmoil, one great advantage Ireland does offer is low corporate taxes. With taxes being exceedingly high in the United States, moving major companies opening up offices overseas has become a popular as of late, and with its low corporate tax rate Ireland has been able to attract major companies like Facebook and Google and PayPal, who set up shop in Dublin over a decade ago.
This announcement allows follows up previous good news of last week when the country was able to come to an agreement with European Central Bank to try and ease the burden of the state-owned bank debt.
Ebay has continued to make news as just last month it was testing out a few different pilots programs on to expand its reach to new customers. The programs consisted of a home pick-up service as well as mall pilot where customers were welcomed to drop off their items for appraisal. Both programs were just pilots but tested successfully and could potentially be reintroduced on a permanent basis in the future.
Edited by Rich Steeves