Lates News

eBay (EBAY.O) plans to cut approximately 800 jobs, which accounts for 6% of its full-time staff. The company states that this move is to align its workforce with the company's strategic priorities. eBay will continue to recruit talent in key areas. This job cut comes one week after the company announced the acquisition of the second-hand fashion trading platform Depop for approximately $1.2 billion. Previously, the company also reported strong quarterly performance, with revenue increasing by 15% to $30 billion in the fourth quarter of last year, exceeding analyst expectations. This is the third major job cut the company has made in three years. In early 2024, eBay cut approximately 1,000 jobs, accounting for 9% of its total staff, citing that the growth rate of labor costs exceeded the growth rate of the business. In early 2023, the company laid off approximately 500 employees, accounting for 4% of its staff, due to a decline in consumer spending after the surge in online shopping during the pandemic.