September 22, 2023

Ebay announces job cuts

Ebay on Tuesday introduced plans to chop 500 jobs, or about 4% of its workforce, in keeping with a filing with the SEC.

Shares of eBay have been up barely in prolonged buying and selling Tuesday.

In a memo to workers, CEO Jamie Iannone mentioned the corporate determined to make cuts after analyzing the worldwide macroeconomic atmosphere over the previous a number of months. He mentioned the cuts will strengthen eBay’s capacity to ship higher experiences for its clients, and it’ll assist eBay give attention to areas the place it might probably take advantage of affect.

eBay headquarters in San Jose, California, U.S., on Monday, Aug. 9, 2021.

David Paul Morris | Bloomberg | Getty Photos

“Importantly, this shift offers us further house to speculate and create new roles in high-potential areas — new applied sciences, buyer improvements and key markets — and to proceed to adapt and flex with the altering macro, ecommerce and know-how panorama,” Iannone wrote within the launch.

He mentioned affected workers can be knowledgeable over the following 24 hours.

The corporate’s layoff announcement marks the most recent spherical of job cuts within the tech business, as Zoom additionally introduced plans to cut around 1,300 jobs Tuesday. In January, Google revealed plans to put off greater than 12,000 workersMicrosoft disclosed plans to chop 10,000 employees and Salesforce introduced plans to lay off 7,000 workers.

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