eBay Announces Layoffs of 500 Employees Globally
By SAN FRANCISCO, Feb 8 (IANS) – E-commerce giant eBay has announced to lay off around 500 workers, about 4 per cent of its staff globally, citing the macroeconomic situation. On Tuesday, eBay Inc., the world-renowned e-commerce company, declared that it would be cutting 500 jobs in an effort to cut costs and enhance efficiency. It is anticipated that this transition will account for 4% of their overall personnel, with layoffs occurring worldwide.[0]
On Tuesday, Jamie Iannone, CEO of eBay, released a statement concerning layoffs to staff, which was also filed with the United States Securities and Exchange Commission (SEC).[1] EBay announced it will be carrying out layoffs that will affect its workers in San Jose and San Francisco. The company, an online auction and shopping e-commerce provider, said the layoffs are planned.
In a message to employees, eBay President and CEO Jamie Iannone said, “[O]ver the past few months, we’ve taken a thoughtful look at where we are as a company with considerations of the macroeconomic situation around the world and how to best invest and operate so that we can continue to be successful.”[2] Iannone 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.[2]
According to Iannone, the steps taken today are to increase our capacity to offer improved customer experiences from beginning to end and to promote more creativity and growth throughout our system. Additionally, he mentioned that the organization's efforts would aid in broadening its Concentrated Fields and investing in novel technologies.[3]
In a memo to employees, Iannone stated that in order to achieve long-term, sustainable growth for eBay, it is necessary to modify our organization and move forward with our strategy; this strategy emphasizes growth, developing a reputable marketplace, encouraging fans and introducing innovative technologies for the future.[4]
CEO Eric Yuan has announced that video communication app Zoom will be cutting 15% of its workforce, amounting to 1,300 people.[5]
According to Iannone, the measures undertaken are intended to enhance the firm's capacity to provide improved overall experiences for its patrons and to enable more creativity and scale throughout the platform.
0. “Ebay lays off 500 employees” San Francisco Chronicle, 8 Feb. 2023, https://www.sfchronicle.com/tech/article/ebay-layoffs-17770373.php
1. “E-commerce giant eBay to lay off 500 employees” Punjab News Express, 8 Feb. 2023, https://www.punjabnewsexpress.com/news/news/e-commerce-giant-ebay-to-lay-off-500-employees-198348
2. “eBay will slash nearly 200 Bay Area jobs as tech layoffs worsen” The Mercury News, 8 Feb. 2023, https://www.mercurynews.com/2023/02/07/ebay-san-jose-bay-area-job-cut-tech-layoff-facebook-google-twitter
3. “eBay (NASDAQ:EBAY) Joins Tech Layoff Spree with 500 Job Cuts” TipRanks, 8 Feb. 2023, https://www.tipranks.com/news/ebay-nasdaqebay-joins-tech-layoff-spree-with-500-job-cuts
4. “Ebay to lay off 4% of global workforce” UPI News, 8 Feb. 2023, https://www.upi.com/Top_News/US/2023/02/07/ebay-layoffs-500-employees-globally/8051675816585/
5. “E-commerce giant eBay to layoff 500 employees | Glamsham” Glamsham, 8 Feb. 2023, https://glamsham.com/world/technology/e-commerce-giant-ebay-to-layoff-500-employees
