eBay to cut roughly 1,100 jobs as it refocuses on high-growth segments
eBay announced plans to eliminate about nine percent of its staff, roughly 1,100 positions, to streamline operations and invest in its fastest-growing businesses.
eBay disclosed that it will cut roughly nine percent of its global staff, amounting to about 1,100 jobs, as part of a broader effort to simplify its operations. CEO Jamie Iannone communicated the decision in a memo to employees, noting that the company previously reduced its workforce by six percent, or 800 roles, in February. The layoffs are intended to redirect capital toward the company's fastest-growing segments, including authenticated luxury goods, collectibles and refurbished products, which have attracted premium-paying buyers and contributed to a near-40-percent rise in eBay’s share price this year.
The firm also highlighted the strategic benefit of its $1.4 billion purchase of fashion resale platform Depop, which expands its reach among younger shoppers. Shares slipped 1.8 percent in pre-market trading following the announcement. Employees impacted by the cuts will receive notice in the next few days.
Why it matters
The layoffs affect over a thousand workers and signal eBay's shift toward higher-margin, fast-growing market segments.
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