eBay to Lay Off 500 Employees

By Reuters
February 8, 2023Business News
eBay to Lay Off 500 Employees
The eBay app is seen on a smartphone in an illustration taken on July 13, 2021. (Dado Ruvic/Illustration/Reuters)

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

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

“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. to Alphabet Inc. have laid off thousands this year to ride out a demand downturn wrought by high inflation and rising interest rates.

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