eBay Inc, a leading e-commerce retailer, is set to undergo a significant workforce restructuring as it plans to cut approximately 1,000 roles, constituting around 9% of its current workforce. The decision, revealed on Tuesday, comes as the company addresses the need to align its resources and expenses with the evolving dynamics of its business.
eBay CEO Jamie Iannone conveyed the rationale behind the move in a letter shared with employees, stating, “While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business.” He emphasized the implementation of organizational changes aimed at aligning and consolidating certain teams to enhance the end-to-end experience and better meet the needs of customers worldwide.
This announcement follows a broader trend of workforce adjustments in the U.S. tech industry, where many companies, including giants like Amazon and Google, engaged in significant hiring during the pandemic. eBay’s decision reflects the company’s proactive approach to maintaining efficiency and competitiveness in a rapidly changing market.
In addition to the job cuts, eBay will also reduce the number of contracts within its alternative workforce over the coming months, further streamlining its operations and resource allocation. It’s noteworthy that last February, eBay had already announced plans to lay off 500 employees globally, representing 4% of its total workforce.
