EBay confirmed it will reduce its workforce by about 9%, or roughly 1,000 employees, as part of a strategy to align resources with its top priorities. This move follows a previous layoff of 800 employees earlier this year, indicating a trend of workforce reduction as the company seeks to enhance its operational strength.
CEO Jamie Iannone emphasized the need for thoughtful investment choices to capture growth opportunities. Despite these layoffs, eBay plans to continue hiring in key strategic areas. The company has also been increasing its investment in artificial intelligence and recently acquired the resale platform Depop for $1.4 billion, aiming to attract younger consumers.
Following the announcement, eBay's shares rose approximately 1%, suggesting some investor confidence in the company's strategic direction