Online retailer eBay says it wants to cut about 1,000 jobs, or an estimated nine percent of its workforce. “While we are making progress in executing our strategy, our workforce and costs have outpaced the growth of our business,” CEO Jamie Iannone said in a letter to employees.
For this reason, they want to merge and consolidate certain teams to, among other things, better meet the needs of customers around the world. In addition to the job cuts, the company also plans to reduce the number of contracts within its workforce in the coming months, Iannone said.
Last February, the online retailer announced that it would lay off 500 employees worldwide, equivalent to four percent of its total workforce. The job losses follow a wave of layoffs in the U.S. tech industry after it hired heavily during the pandemic.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
