eBay plans to retrench 1000 staff member, 9% of the workforce

E-commerce platform, eBay announced it will layoffs 1000 of its staff members, about 9% of the full-time employees will lose their jobs. The head count reduction is the results of continuous sluggish economic growth stated the company in a blog post.

The company also mentioned they plan to scale back the number of contracts they have within alternate workforce over the coming months.

Jamie Iannone, President and CEO admitted that their overall headcount and expenses have outpaced the growth of the business. 

In a written note to staff, Iannone said: “Despite facing external pressures, like the challenging macroeconomic environment, we know we can be better with the factors we control. While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business.”

“To address this, we’re implementing organizational changes that align and consolidate certain teams to improve the end-to-end experience, and better meet the needs of our customers around the world.”

eBay join a lists of tech companies announced layoffs in January, that includes, Twitch, Amazon Prime and Audible, Google Discord, TikTok and others.

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