Now it is scaling back its growth expectations and its spending.

Still others dig into economic theories like transaction cost economics or the interplay of growth expectations and stock prices.

An important component of the report which can move markets as traders re-price growth expectations based on the revision to the previous number.

The company said many of those jobs became unnecessary after corporate reorganizations, and other cuts resulted from lower growth expectations.

At the turn of the year, it advised investors to lower their growth expectations.

"All those companies had huge earnings growth expectations," Mr. Lewis said.

"We're not interested in stocks that have a higher yield where growth expectations are low," he said.

"I think you'll have to temper the growth expectations."

"The long-term growth expectations for this business are no longer projected to be as high as previously expected," the company said in a statement.

Of course, eBay is not the only company for which investors have huge growth expectations.