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eBay to lay off 9% of workforce, about 1,000 employees

EBay will lay off about 9% of its workforce, around 1,000 employees, CEO Jamie Iannone told staff.

Updated 1 min read

Published by Agyata NewsroomEditorial policyCorrections

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Key points

  • EBay will cut about 9% of its workforce, eliminating around 1,000 jobs.
  • EBay had 12,300 employees at the end of last year.
  • EBay let go about 6% of its workforce, or 800 employees, in February.

Why it matters. The cuts show eBay is trimming staff as it shifts resources to its fastest-growing areas, a move that could affect how the marketplace competes in resale and collectibles.

Updated Sources: Economic Times, CNBC

EBay will lay off about 9% of its workforce, roughly 1,000 jobs, CEO Jamie Iannone told staff in a memo reviewed by Reuters, and a spokesperson confirmed the layoffs on Wednesday. The company had 12,300 employees at the end of last year and cut about 6% of its workforce, or 800 employees, in February. Iannone said the strategy is working and that capturing the opportunity ahead requires choices about where eBay focuses and invests. Shares rose about 1% in early trading.

Latest updates

eBay to lay off 9% of workforce, about 1,000 employees

eBay announced on Wednesday that it will lay off about 9% of its workforce, eliminating approximately 1,000 jobs. CEO Jamie Iannone informed staff of the decision in a memo reviewed by Reuters, citing the need to simplify operations and shift resources to the company's fastest-growing areas. A company spokesperson confirmed the layoffs to Reuters. eBay had 12,300 employees at the end of last year. This marks the second round of job cuts in recent months, following a reduction of about 6% of its workforce, or 800 employees, in February. The company said the move is part of efforts to streamline operations and focus on top strategic priorities.

Economic TimesCNBC

Sources

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