Ebay on Tuesday introduced plans to chop 500 jobs, or about 4% of its staff, consistent with a submitting with the SEC.
Stocks of eBay had been up reasonably in prolonged buying and selling Tuesday.
In a memo to workers, CEO Jamie Iannone mentioned the corporate determined to make cuts after analyzing the worldwide macroeconomic surroundings over the last a number of months. He mentioned the cuts will give a boost to eBay’s talent to ship higher stories for its shoppers, and it’s going to assist eBay focal point on spaces the place it may take advantage of have an effect on.
eBay headquarters in San Jose, California, U.S., on Monday, Aug. 9, 2021.
David Paul Morris | Bloomberg | Getty Pictures
“Importantly, this shift offers us further area to take a position and create new roles in high-potential spaces — new applied sciences, buyer inventions and key markets — and to proceed to evolve and flex with the converting macro, ecommerce and generation panorama,” Iannone wrote within the unlock.
He mentioned affected workers shall be knowledgeable over the following 24 hours.
The corporate’s layoff announcement marks the newest spherical of activity cuts within the tech business, as Zoom additionally introduced plans to chop round 1,300 jobs Tuesday. In January, Google published plans to put off greater than 12,000 employees, Microsoft disclosed plans to chop 10,000 workers and Salesforce introduced plans to lay off 7,000 employees.