Ebay on Tuesday introduced programs to reduce 500 positions, or about 4% of its workforce, according to a submitting with the SEC.
Shares of eBay had been up somewhat in prolonged buying and selling Tuesday.
In a memo to staff, CEO Jamie Iannone explained the firm determined to make cuts just after analyzing the world-wide macroeconomic environment more than the past a number of months. He said the cuts will fortify eBay’s ability to produce far better ordeals for its prospects, and it will support eBay concentration on spots exactly where it can make the most impact.
eBay headquarters in San Jose, California, U.S., on Monday, Aug. 9, 2021.
David Paul Morris | Bloomberg | Getty Pictures
“Importantly, this change presents us added area to commit and build new roles in large-possible locations — new systems, shopper improvements and critical marketplaces — and to carry on to adapt and flex with the shifting macro, ecommerce and engineering landscape,” Iannone wrote in the release.
He explained impacted workers will be educated about the next 24 several hours.
The firm’s layoff announcement marks the newest spherical of occupation cuts in the tech field, as Zoom also declared plans to cut around 1,300 jobs Tuesday. In January, Google revealed programs to lay off much more than 12,000 workers, Microsoft disclosed strategies to cut 10,000 employees and Salesforce announced designs to lay off 7,000 employees.