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eBay Announces Layoffs, To Sack 500 Employees Citing ‘Macroeconomic Situation’

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San Francisco, February 8: E-commerce giant eBay has announced to lay off around 500 workers, about 4 per cent of its staff globally, citing the macroeconomic situation. Jamie Iannone, CEO of eBay, announced the layoffs on Tuesday in a note to staff that was also filed with the US Securities and Exchange Commission (SEC). SecureWorks Layoffs: American Cybersecurity Company To Cut 9% of Workforce as Part of Cost Cutting.

Iannone said that actions taken are designed to strengthen the company’s ability to deliver better end-to-end experiences for its customers and to support more innovation and scale across the platform. “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, e-commerce and technology landscape. We’re also simplifying our structure to make decisions more effectively and with more speed,” he said in the note. Zoom Begins Layoffs, To Sack Around 1,300 Employees; CEO Eric Yuan Taking 98% Pay Cut.

He further added that the move will allow eBay to focus on “where we can make the biggest impact”, including expanding the company’s categories of focus. Meanwhile, video communication app Zoom is also laying off about 1,300 people, or 15 per cent of its workforce, its CEO Eric Yuan has announced. Yuan also said that he is reducing his salary for the coming fiscal year by 98 per cent and foregoing his FY23 corporate bonus.

(The above story first appeared on LatestLY on Feb 08, 2023 12:32 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website


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