- Blockchain is a digital ledger that records every transaction on a public network.
- Once a transaction is recorded, it cannot be changed or deleted.
- It is the foundation of Bitcoin, Ethereum, and thousands of other cryptocurrencies.
eBay (EBAY %) is laying off roughly 800 employees — about 6% of its workforce — spread across the company in areas deemed duplicative or out of step with its future direction.
WHY IT'S HAPPENING
eBay has been trimming headcount steadily while shifting dollars toward AI. The company has built AI tools into its buyer and seller experience and partnered with OpenAI on an agentic web browser. The message is clear: fewer people, more automation.
This is the third time eBay has cut jobs in the past three years. In early 2024, it cut around 1,000 roles — about 9% of its workforce at the time.
THE TWIST
The timing is a little awkward. Just last week, eBay announced a $1.2 billion deal to acquire Depop — Etsy's secondhand fashion app — to attract younger shoppers and grow its presence in clothing. About 90% of Depop's users are under 34.
eBay also just reported a strong quarter, with revenue up 15% to $3 billion, topping analyst estimates.
THE BOTTOM LINE
So eBay is cutting staff, posting record revenue, and splurging on a Gen Z fashion app — all in the same week. Whether that's a bold pivot or a mixed message probably depends on whether you still have a job there.
