eBay Inc. to Lay Off 1,000 Employees in Restructuring Move to Boost Growth

January 25, 2024
eBay Inc. to Lay Off 1,000 Employees in Restructuring Move to Boost Growth
  • eBay Inc. plans to lay off 1,000 employees, accounting for 9% of the workforce, in a restructuring effort to reduce costs and boost long-term growth.

  • CEO Jamie Iannone recognizes that the company's growth has not justified its headcount and expenses, leading to the need for layoffs.

  • The layoffs are necessary to streamline operations, reduce expenses, and enhance the customer experience.

  • Despite competition, eBay's stock slightly increased after the layoff announcement.

  • The decision is consistent with previous job cuts and trends seen among other tech companies.

  • eBay's goal is to become more focused and responsive, promising support for impacted employees during the transition.

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