EBay plans to eliminate around 9% of its workforce, or about 1,000 jobs, as it streamlines operations and concentrates on its fastest growing businesses. A spokesperson confirmed the move to CNBC and said, "As we work to capture the significant opportunity ahead, this step was taken to ensure we continue to operate from a position of strength by aligning our teams and resources with our top strategic priorities."
Reuters first reported the reduction, citing a memo from CEO Jamie Iannone that said, "Our strategy is working." He added, "Continuing to capture the significant opportunity ahead requires us to make thoughtful choices about where we focus and invest."
This is the second round of cuts this year following a 6% reduction in February that hit about 800 employees. Over the past several years, the company has cut staff while increasing its investment in artificial intelligence.
Earlier this year, eBay acquired Depop - a secondhand apparel marketplace popular with Gen Z and millennials - from Etsy. The deal, valued at $1.4 billion, closed in July. Shares were up roughly 1% Wednesday morning.
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The company said it will keep hiring in "priority areas aligned with our strategy," even as it trims elsewhere. By the end of 2025, eBay's headcount was about 12,300, providing a reference point to measure these cuts alongside future hiring.
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