eBay has announced plans to lay off approximately 800 employees, constituting 6% of its full-time workforce. The company stated, ‘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.’ This move follows eBay’s recent acquisition of Depop, a popular second-hand clothing app, from Etsy for $1.2 billion in cash.
These layoffs mark eBay’s third round of job cuts in the past three years, with previous reductions in early 2024 and early 2023. Despite these workforce adjustments, eBay reported a 15% revenue increase to $3 billion in the last quarter, surpassing analysts’ forecasts.
This strategic realignment by eBay reflects the company’s ongoing efforts to optimize its operations and focus on key business objectives. The technology sector continues to witness dynamic shifts in workforce dynamics and corporate strategies as companies adapt to changing market conditions and consumer preferences.
Source: TechCrunch