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Ebay on Tuesday introduced plans to chop 500 jobs, or about 4% of its workforce, in keeping with a submitting with the SEC.
Shares of eBay had been up barely in prolonged buying and selling Tuesday.
In a memo to staff, CEO Jamie Iannone stated the corporate determined to make cuts after analyzing the worldwide macroeconomic setting over the previous a number of months. He stated the cuts will strengthen eBay’s capability to ship higher experiences for its prospects, and it’ll assist eBay deal with areas the place it might take advantage of influence.
eBay headquarters in San Jose, California, U.S., on Monday, Aug. 9, 2021.
David Paul Morris | Bloomberg | Getty Photographs
“Importantly, this shift offers us extra area to speculate and create new roles in high-potential areas — new applied sciences, buyer improvements and key markets — and to proceed to adapt and flex with the altering macro, ecommerce and know-how panorama,” Iannone wrote within the launch.
He stated affected staff can be knowledgeable over the following 24 hours.
The corporate’s layoff announcement marks the most recent spherical of job cuts within the tech trade, as Zoom additionally introduced plans to reduce round 1,300 jobs Tuesday. In January, Google revealed plans to put off greater than 12,000 employees, Microsoft disclosed plans to chop 10,000 staff and Salesforce introduced plans to lay off 7,000 employees.
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