eBay to cut about 9% of its workforce in second round of layoffs this year
The online marketplace wants to focus on luxury goods, collectibles and refurbished products. CEO Jamie Iannone announced the move in an internal memo, according to Reuters.
Archive image · Photo: Coolcaesar / Wikimedia Commons, CC BY-SA 4.0 (cropped and resized)
US online marketplace eBay is cutting about 9% of its workforce, according to an internal memo from Chief Executive Jamie Iannone seen by Reuters. A spokesperson confirmed on Wednesday that roughly 1,000 jobs will go. eBay had about 12,300 employees at the end of last year and had already cut around 800 jobs in February.
eBay wants to streamline its operations and redirect resources to its fastest-growing areas – authenticated luxury goods, collectibles and refurbished products. "Our strategy is working," Iannone wrote. Affected employees are to be notified in the coming days. The reports gave no breakdown by country or location.
The shares fell 1.8% in US premarket trading but have gained nearly 40% since the start of the year. In May, eBay rejected an unsolicited takeover bid of around 56 billion dollars from GameStop CEO Ryan Cohen as neither credible nor attractive. eBay reports its quarterly results next week.