February 29, 2024

E-commerce giant eBay is undertaking another round of job cuts.

Jamie Iannone, the president and CEO of eBay, said in a message to employees posted online on Tuesday that the company will reduce its workforce by about 1,000 roles, equal to around 9% of its full-time employees.

The CEO cited the “challenging macroeconomic environment” and said that the eBay’s overall headcount and expenses “have outpaced the growth of our business.” Some teams will be consolidated in further efforts to make the company more efficient.

Iannone said that “fundamental changes” to its online platform over the last three years have resulted in “consistent increases in customer satisfaction and a meaningful improvement in our growth relative to the market,” but added that to ensure continued success, eBay needed to better organize its teams for speed, “allowing us to be more nimble, bring like-work together, and help us make decisions more quickly.”

Sadly, for around 1,000 workers, that means the loss of their job.

“There are not actions we take lightly,” the CEO wrote in his message. “We recognize the impact they will have on all eBayers. We have to say goodbye to people who have made so many important contributions to the eBay community and culture, and this isn’t easy.”

All eBay employees in the U.S. are being asked to work from home on Wednesday, January 24, as the company works through the losses and deals with inquiries from employees both current and former.

Those losing their role at eBay will be given “support and resources,” Iannone said.

In a further effort to make savings, eBay will also scale back the amount of work it hands out to external contractors, the CEO revealed.

The news comes just weeks after eBay laid off around 25 of its 250 workers in Israel, and nearly a year after it slashed its workforce by 500 people globally.

It also follows similar moves by others in the tech space, with many citing uncertain economic conditions. Google, Meta, Microsoft, and Amazon are among some of the major firms to have laid off workers over the last year. And just a couple of days ago, League of Legends publisher Riot Games announced it was cutting 11% of its staff, resulting in 530 layoffs.

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