On Tuesday, EBay introduced it’s shedding 1,000 staff, citing a slow-down in progress.
Matt Slocum/AP
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Matt Slocum/AP
On Tuesday, EBay introduced it’s shedding 1,000 staff, citing a slow-down in progress.
Matt Slocum/AP
On-line retailer eBay is shedding 1,000 jobs, or about 9% of its workforce, as the corporate faces a enterprise slowdown that’s rippling throughout the expertise business.
In a weblog submit, eBay CEO Jamie Iannone wrote that the dimensions of the corporate’s employees and its bills ”have outpaced the expansion of our enterprise,” which he stated prompted the terminations.
As well as, eBay is ending its relationship with many exterior contractors.
Each strikes, Iannone wrote, are a part of an effort to remain extra ”nimble” within the face of a ”difficult” economic system.
Based in 1995, eBay is an early web pioneer that has survived many years of modifications and fierce competitors on this planet of e-commerce. At the moment, it’s a $21 billion firm with practically 12,000 staff, however its core enterprise has been chipped away at over time by Amazon and different on-line marketplaces.
Whereas it has been largely insulated from the downturn in promoting spending, because it makes most of its cash off gross sales commissions, a gross sales slowdown on the on-line platform has hit eBay’s backside line.
The 1,000 layoffs introduced on Tuesday observe a earlier employees reduce in February 2023, when it sacked 500 staff, as the corporate tried to regulate to flagging gross sales demand after pandemic increase occasions.
The employees contraction at eBay comes as dozens of different tech firms, together with Google, Amazon, and not too long ago, TikTok, have collectively laid off hundreds, with executives saying they’re nonetheless shaking off workforces glutted from the pandemic.
Simply 4 weeks into 2024, dozens of tech firms have laid off practically 11,000 staff, based on layoffs.fyi, a web site that tracks job cuts within the sector.
Iannone, eBay’s CEO, stated staff who’ve misplaced their jobs will quickly be notified by way of a Zoom assembly. He requested that every one U.S. staff earn a living from home on Wednesday, when lots of the lay off notifications can be delivered, to ”present some house and privateness for these conversations.”
Earlier this month, eBay agreed to pay a $3 million settlement to resolve a prison probe right into a cyberstalking and harassment marketing campaign led by former eBay staff by which reside spiders and a bloody pig face masks had been despatched to the house of a Massachusetts couple who printed a publication that centered on eBay sellers and executives.