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Home Uncategorized

EBay Announces Plans To Cut 500 Jobs, Impacting 4% Of Total Workforce

February 8, 2023
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EBay Announces Plans To Cut 500 Jobs, Impacting 4% Of Total Workforce
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EBay Announces Plans To Cut 500 Jobs, Impacting 4% Of Total Workforce

Last Updated: February 08, 2023, 09:23 IST

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Ebay joins the layoffs bandwagon. (Image: Reuters)

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Ecommerce firm eBay Inc said on Tuesday it will lay off 500 employees globally, representing 4% of its total workforce.

E-commerce firm eBay Inc (EBAY.O) said on Tuesday it will lay off 500 employees globally, representing 4% of its total workforce.

Shares of the San Jose, California-based company rose about 1% in aftermarket trade.

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“This shift gives us additional space to invest and create new roles in high-potential areas – new technologies, customer innovations and key markets,” said Jamie Iannone, Chief Executive Officer of Ebay in a message to employees.

A raft of U.S. companies from Goldman Sachs Group Inc (GS.N) to Alphabet Inc (GOOGL.O) have laid off thousands this year to ride out a demand downturn wrought by high inflation and rising interest rates.

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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)

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