Online retailer eBay faces challenging times as it reveals plans to cut 9% of its workforce, equivalent to 1,000 full-time employees, aiming to be more agile in a tough economic climate.
CEO Jamie Iannone states the move is part of a strategy to streamline operations and replace contract staff with alternative workforce.
This announcement follows a previous reduction of 4% (500 employees) in February 2023. eBay, a $21 billion company with 12,000 employees, grapples with market share loss to competitors like Amazon and Walmart.
The tech industry trend continues, with over 60 companies, including Amazon and Google, letting go of almost 11,000 employees in 2024.
