E-Commerce Giant eBay Forced to Downsize Workforce Amid Changing Market Conditions

In yet another instance of Big Tech firms readjusting their payroll, online marketplace eBay announced it will lay off approximately 1000 employees or 9% of its workforce.

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E-Commerce Giant eBay Forced to Downsize Workforce Amid Changing Market Conditions

In yet another instance of Big Tech firms readjusting their payroll, online marketplace eBay announced it will lay off approximately 1000 employees or 9% of its workforce.

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As per reports, Iannone shared the move in an email to staff while assertinG eBay needs to change in order to progress against its strategic goals.

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Though the company delivered steady profits in the recent past, its total headcount and overall expenditures outpaced revenue generation.

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This presented an imbalance requiring corrective steps like streamlining certain teams for better experiences.

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It posted around $1.3 billion profit in the last quarter and termed results as “another solid performance”.

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There are also echoes from the post-pandemic context where exuberant hiring left some unable to sustain workforce volumes.

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