Internet auctioneer eBay Inc. (EBAY: sentiment, chart, options) confessed today that it's struggling against the impact of the weak economy and a stronger U.S. dollar. In an effort to remain competitive, the firm will cut about 1,000 employees, or 10% of its global workforce, while eliminating many open positions and trimming several hundred temporary workers from its payroll. The company will take a pretax restructuring charge on the layoffs of $70 million to $80 million, the bulk of which will be recorded in the fourth quarter.

Additionally, eBay reported that it will acquire online-payment firm Bill Me Later for $820 million in cash and $125 million in outstanding options. Also joining the auction company's corporate family is Denmark's leading online classifieds site, dba.dk, and vehicle site bibasen.dk, which eBay will snap up for $390 million in cash.

As if that weren't enough news for a Monday morning, eBay added that third-quarter revenue will arrive at the low end of its previously forecast range of $2.1 billion to $2.15 billion. On the upside, profit for the quarter is now projected to exceed prior estimates of 30 to 32 cents per share (39 to 41 cents per share, excluding items). eBay is schedule to step into the earnings spotlight on October 15.

The shares of eBay are about 2.5% lower in pre-market trading following this deluge of headlines. The stock has shed 43% year-to-date, dropping consistently under pressure from its 10-week moving average. If bullish option players turn against the security, it could translate to more selling pressure EBAY is trading well below heavy call open interest accumulations at the October 22.50 and 27.50 strikes, which carry about 20,000 contracts each.