In a letter addressed to employees, eBay CEO Jamie Iannone acknowledged progress in the company's strategy but highlighted that the growth in overall headcount and expenses has outpaced business expansion.
E-commerce giant eBay has announced that it will cut 1,000 jobs.
New Delhi,UPDATED: Jan 24, 2024 12:25 IST
US e-commerce giant eBay Inc has announced that it plans to cut approximately 1,000 jobs, accounting for around 9 per cent of its current workforce, reported news agency Reuters.
The announcement comes as part of the e-commerce giant's efforts to align its organisational structure with its business strategy.
In a letter addressed to employees, eBay CEO Jamie Iannone acknowledged progress in the company's strategy but highlighted that the growth in overall headcount and expenses has outpaced business expansion.
Iannone said, "To address this, we're implementing organizational changes that align and consolidate certain teams to improve the end-to-end experience and better meet the needs of our customers around the world."
In addition to reducing its workforce, eBay will also scale back the number of contracts within its alternative workforce in the coming months, as outlined in the CEO's note.
The move follows eBay's announcement last February, where the company disclosed plans to lay off 500 employees globally, constituting 4 per cent of its total workforce.
The job cuts at eBay reflect a broader trend in the US tech industry, where several companies, including Amazon and Google, have undergone layoffs after substantial pandemic-driven hiring.
Just a day ago, a report indicated that layoffs in the US surged 98 per cent in 2023 and the situation is likely to worsen in 2024.
Published By:
Koustav Das
Published On:
Jan 24, 2024
English (US) ·