San Francisco (Bloomberg) — eBay Inc will cut 325 jobs in its PayPal unit and take a pretax restructuring charge of $15 million, part of president David Marcus’s efforts to streamline the payment division and accelerate new products.PayPal is also ending work arrangements with about 120 contractors worldwide, San Jose, California-based eBay said today in a statement.Mr Marcus is overhauling the payment unit, whose almost 13,000 employees are competing with start-ups such as Stripe Inc and WePay Inc that have been able to roll out services more efficiently. Marcus, who took over in April, so far has consolidated nine product groups into one and announced a plan to reorganise offices into a more collaborative environment.“Unfortunately, making the right decisions on behalf of our customers meant we had to make some very tough decisions inside our company,” he said in a blog post yesterday. “This is a difficult day at PayPal.”Workers who were notified of their termination will be eligible for the employee stock-purchase plan, which closes at the end of the month, according to Anuj Nayar, a spokesman for PayPal.PayPal accounted for 43 percent of eBay’s revenue last year, compared with 25 percent in 2007. While sales rose 23 percent to $1.37 billion in the third quarter, that gain was less than the 32 percent jump to $1.11 billion during the same three months in 2011.