"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 move comes a week after eBay said it would acquire Depop, a second-hand clothing app popular with Gen Z and millennials, from Etsy for $1.2 billion in cash. eBay last week reported fourth-quarter results, with revenue rising 15% to $3 billion, exceeding analysts' expectations."
"This round of layoffs marks the third time eBay has cut jobs in the past three years. In early 2024, it cut 1,000 jobs, or about 9% of its workforce. In early 2023, it laid off about 500 employees, or about 4% of its headcount."
eBay announced layoffs affecting 800 full-time employees, representing 6% of its workforce, as part of restructuring efforts aligned with strategic priorities. The company stated it would support affected employees with care and respect. This layoff occurs one week after eBay announced its $1.2 billion acquisition of Depop, a second-hand clothing platform popular with younger demographics, from Etsy. Despite the workforce reduction, eBay reported strong fourth-quarter financial results with revenue reaching $3 billion, up 15% and exceeding analyst expectations. This represents the third significant workforce reduction in three years, following a 1,000-employee cut in early 2024 and a 500-employee reduction in early 2023.
#corporate-layoffs #ebay-restructuring #depop-acquisition #workforce-reduction #strategic-realignment
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