"We are taking steps to reinvest across our business and align our structure with our strategic priorities, which will affect certain roles across our workforce. We are grateful for the contributions of the employees impacted and are committed to supporting them with care and respect."
"The cuts come a week after the company said it would acquire secondhand fashion marketplace Depop for about $1.2 billion in an effort to draw younger shoppers and after it reported robust quarterly results. Revenue increased 15% to $3 billion in the fourth quarter, surpassing analyst estimates."
"The layoffs mark the third round of cuts in three years. In early 2024, the e-commerce company axed about 1,000 jobs, or about 9% of its workforce, saying labor costs had outpaced growth."
eBay is eliminating approximately 800 full-time positions, representing 6% of its workforce, to realign its structure with strategic business priorities. The company plans to reinvest across its business while supporting affected employees. This layoff follows the company's acquisition of secondhand fashion marketplace Depop for $1.2 billion, aimed at attracting younger shoppers, and comes after strong quarterly results with 15% revenue growth reaching $3 billion. eBay will continue hiring in key areas. This marks the third round of workforce reductions in three years, following cuts of 1,000 jobs in early 2024 and 500 jobs in early 2023.
Read at www.mercurynews.com
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