Due to an economic slump affecting the technology sector, online retailer giant eBay is cutting 1,000 positions or around 9% of its workforce.
A staff reduction of 500 employees was announced back in February 2023. On Tuesday, the company announced 1,000 layoffs to adapt to declining sales demand during epidemic boom periods.
eBay CEO Jamie Iannone said that the layoffs were caused by the company’s spending and workforce size, which “have outpaced the growth of our business,” in a blog post. Iannone said, “Our overall headcount and expenses have outpaced the growth of our business.”
” We are on a path to building a stronger eBay for the future — one that is growing and resilient in the face of any challenge. Over the past three years, we made fundamental changes in our experiences across categories and accelerated the pace of innovation at eBay. In areas where we’re investing, we are seeing consistent increases in customer satisfaction and a meaningful improvement in our growth relative to the market.
Our strategy is right, but we can do more to ensure our success. 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. Today, I am sharing news about changes we are implementing to position eBay for long-term, sustainable growth better.”
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