EBay Inc. has laid off estimated 50 people in its Magento e-commerce software division, product chief Jimmy Duvall is also leaving the company.

In statements to the press EBay spokeswoman Kelly Henry states that this was done to:

Consolidating our local offices to allow the business to focus more deeply on developing our core Magento products, Magento Enterprise Edition and Community Edition.

No mention was made of Magneto Go, their online shopping cart service aimed at SMB business leading to speculation that it might be discontinued.

Magento development was officially started in 2007 by Varien, eBay started acquiring Magento shares in 2010, by June 6 2011 they had completed the purchase and owned 100% of Magento.

Resources:
– Magento