eBay job cuts: Around 1,000 layoffs at tech giant

eBay has change into the most recent tech large to announce mass layoffs within the first month of 2024.
The net market has this week confirmed it plans to cut back its workforce by roughly 1,000 – equating to roughly 9% of its full-time workforce – in an try and “higher place eBay for long-term, sustainable development.” On high of that, it confirms contracts inside its alternate workforce are additionally set to be “scaled again.”
In a note despatched to employees, the California-based firm’s President and CEO, Jamie Iannone outlined his long-term technique and confirmed that adjustments remodeled the previous three years have resulted in “will increase in buyer satisfaction and a significant enchancment in our development.”
Nevertheless, Iannone goes on to quote the necessity to have a extra optimized workforce that may enable for selections to be made faster, permitting them to be extra “nimble”.
Iannone additionally acknowledges exterior pressures the enterprise faces, such because the difficult macroeconomic setting, earlier than he admits that whereas eBay believes its present technique is right, its “total headcount and bills have outpaced the expansion of the enterprise.”
“To deal with this, we’re implementing organizational adjustments that align and consolidate sure groups to enhance the end-to-end expertise, and higher meet the wants of our clients around the globe,” Iannone stated.
Based in 1995, eBay is now value over $21 billion. The net public sale website had forecast fourth-quarter income and revenue in 2023 would are available in beneath Wall Road estimates.
Intensifying competitors from the likes of Amazon and client spending cutbacks in developed economies as a result of inflation pressures have squeezed eBay’s backside line.
A troublesome begin to 2024 for tech giants
The tech trade continues to make widespread cuts to its workforce following a 2023 that Meta CEO, Mark Zuckerberg described as “the 12 months of Effectivity.”
Within the first few weeks of 2024 alone, the tech sector has skilled greater than 13,000 job cuts from 72 totally different tech firms, in accordance with layoffs.fyi. That follows over 260,000 from greater than 1,100 companies within the sector in 2023 and 165,000 layoffs in 2022.
Earlier this week, TikTok announced 60 of its US-based workforce was being cut, whereas Google and Discord have additionally introduced widespread layoffs within the first month of the 12 months.
Featured Picture: eBay

James Jones
Freelance Journalist
James Jones is a extremely skilled journalist, podcaster and digital publishing specialist, who has been creating content material in quite a lot of types for on-line publications within the sports activities and tech trade for over 10 years.
He has labored at among the main on-line publishers within the nation, most just lately because the Content material Lead for Snack Media’s expansive of portfolio of internet sites, together with Football Fancast.com, FootballLeagueWorld.co.uk and GiveMeSport.com. James has additionally appeared on a number of nationwide and international media shops, together with BBC Information, talkSPORT, LBC Radio, 5 Dwell Radio, TNT Sports activities, GB Information and BBC’s Match of the Day 2.
James has a level in Journalism and beforehand held the place of Editor-in-Chief at FootballFanCast.com. Now, he co-hosts the favored We Are West Ham Podcast, writes a weekly column for BBC Sport and covers the most recent information within the trade for ReadWrite.com.
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