Ebay On Tuesday it announced plans to cut 500 jobs, or about 4% of its workforce, according to a filing with the SEC.
Shares of eBay rose slightly in full trading Tuesday.
In a memo to employees, CEO Jamie Iannone said the company decided to make the cuts after reviewing the global macroeconomic environment over the past few months. He said the cuts will strengthen eBay’s ability to provide a better experience for customers, and will help eBay focus on areas where it can make the most impact.
eBay headquarters in San Jose, California, USA, Monday, August 9, 2021.
David Paul Morris Bloomberg Getty Images
“Importantly, this change gives us additional space to invest and create new roles in high-potential areas – new technologies, customer innovation and key markets – and continue to adapt and be flexible with the changing macro, e-commerce and technology landscape,” Iannone wrote. in release.
He said affected employees will be notified within the next 24 hours.
The company’s layoff announcement marks the latest round of job cuts in the tech industry, as Zoom also announced plans to cut about 1,300 jobs Tuesday. In January, Google announced plans to lay off more than 12,000 employees, Microsoft announced plans to lay off 10,000 employees and Salesforce announced plans to lay off 7,000 employees.