Ebay on Tuesday introduced plans to chop 500 jobs, or about 4% of its workforce, in line with a submitting with the SEC.
Shares of eBay have been up barely 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 previous a number of months. He mentioned the cuts will strengthen eBay’s skill to ship higher experiences for its prospects, and it’ll assist eBay concentrate on areas the place it will possibly take advantage of affect.
eBay headquarters in San Jose, California, U.S., on Monday, Aug. 9, 2021.
David Paul Morris | Bloomberg | Getty Images
“Importantly, this shift gives us additional space to invest and create new roles in high-potential areas — new technologies, customer innovations and key markets — and to continue to adapt and flex with the changing macro, ecommerce and technology landscape,” Iannone wrote within the launch.
He mentioned affected workers will probably be knowledgeable over the subsequent 24 hours.
The firm’s layoff announcement marks the newest spherical of job cuts within the tech business, as Zoom additionally introduced plans to chop 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 workers and Salesforce introduced plans to lay off 7,000 employees.
Source: www.cnbc.com”