Online retailer eBay is cutting 1,000 jobs. It's the latest tech company to reduce its workforce
CTV
Online retailer eBay Inc. will cut about 1,000 jobs, or an estimated 9 per cent of its full-time workforce, saying its number of employees and costs have exceeded how much the business is growing in a slowing economy. It marks the latest layoffs in the tech industry.
Online retailer eBay Inc. will cut about 1,000 jobs, or an estimated 9 per cent of its full-time workforce, saying its number of employees and costs have exceeded how much the business is growing in a slowing economy. It marks the latest layoffs in the tech industry.
CEO Jamie Iannone said in a message to employees on Tuesday that the company also will reduce how many "contracts we have within our alternate workforce over the coming months."
Those who are being laid off will be told through Zoom calls with their bosses, Iannone said, requesting that people work from home Wednesday to allow privacy for those conversations.
"We need to better organize our teams for speed -- allowing us to be more nimble, bring like-work together, and help us make decisions more quickly," he said in the note, which was posted online.
"These changes are difficult, but I'm confident that by working together we will become stronger than ever," Iannone added.
San Jose, California-based eBay is the latest tech company to roll out a series of layoffs after quickly ramping up hiring during the COVID-19 pandemic while people spent more time and money online.
Now, companies from Google to Amazon have been making painful job cuts to reduce costs and bolster their bottom lines.
