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This year’s layoffs are showing no signs of abating, as eBay (NASDAQ:EBAY) joins the list of companies downsizing in 2024 to ensure long-term, sustainable growth.
CEO Jamie Iannone said in a memo that eBay (EBAY) plans to lay off 9% of its workforce, or about 1,000 full-time jobs, and will scale back the number of contracts it has within its alternate workforce over the coming months. Shares of eBay (EBAY) rose 3% in premarket trade on Wednesday.
“While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business,” Iannone wrote in the memo. “We need to better organize our teams for speed – allowing us to be more nimble, bring like-work together, and help us make decisions more quickly.”
Early last year, eBay (EBAY) had cut about 500 jobs or 4% of its workforce, amid slower consumer spending after a brief pandemic boom.
The e-commerce firm joins a growing list of companies that have announced job cuts in recent days, including Alphabet (GOOG) (GOOGL), Amazon (AMZN) and SAP (SAP).
