EBay will lay off about 1,000 full-time workers, or roughly 9% of its total workforce, because it appears to reverse a significant hunch on the once-booming on-line market, the corporate stated.
The San Jose, Calif.-based public sale website requested its remaining workers to make money working from home on Wednesday “to offer some area and privateness” because it started informing impacted employees through Zoom.
Along with the layoffs, eBay stated it would “reduce” its use of contractors in assist roles within the months forward.
CEO Jamie Iannone cited “exterior pressures, just like the difficult macroeconomic setting,” as elements that contributed to the culling.
“Our total headcount and bills have outpaced the expansion of our enterprise,” Iannone stated in a memo. “To deal with this, we’re implementing organizational adjustments that align and consolidate sure groups to enhance the end-to-end expertise, and higher meet the wants of our clients world wide.”
Laid-off workers will obtain “assist and sources,” Iannone added.
EBay shares have been flat in buying and selling Wednesday after the announcement.
The job cuts are the most recent signal of ongoing ache at eBay — which laid off 500 workers as just lately as final February.
The corporate had roughly 11,600 workers world wide on the finish of 2022, in response to filings.
The corporate had ramped up hiring in the course of the COVID-19 pandemic, solely to be hammered by the affect of excessive rates of interest and inflation that led many Individuals to chop again on their on-line spending.
EBay is the most recent of a number of notable tech business companies which have enacted job cuts in latest days.
Earlier this month, Google irked workers by asserting greater than 1,000 layoffs throughout a number of divisions.
CEO Sundar Pichai has identified “durable cost savings” as one of many firm’s targets for 2024.
E-commerce large Amazon additionally introduced cuts — together with about 500 employees at its livestreaming website Twitch.