eBay To Layoff 500 Employees, Around 4% Of Total Workforce

California, 8th February 2023: eBay has announced job cuts of over 500 employees, or around 4% of its global workforce, citing the macroeconomic environment.

In a memo to staff that was also submitted to the US Securities and Exchange Commission (SEC), eBay CEO Jamie Iannone made the layoffs public on Tuesday (February 7).

Iannone claims that the business is making efforts to increase its capacity to deliver better end-to-end customer experiences and to support greater innovation and platform expansion.

He said, “This change gives us more room to invest in high-potential sectors, new technologies, client innovations, and critical markets, as well as to create new jobs. It also allows us to continue to adjust and flex with the shifting macroeconomic, e-commerce, and technological landscapes. Additionally, we are streamlining our organisation to enable quicker and more efficient decision-making.”