eBay to slash 1,000 jobs, scale back contracts

The eBay app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration

eBay Inc will cut about 1,000 roles, or an estimated 9 percent of its current workforce, the e-commerce retailer said on Tuesday.

“While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business,” eBay CEO Jamie Iannone said in a letter shared with employees.

READ: Tech layoffs continue after ‘Year of Efficiency’

“To address this, we’re implementing organizational changes that align and consolidate certain teams to improve the end-to-end experience, and better meet the needs of our customers around the world.”

Organizational changes

The job cuts follow a wave of U.S. tech layoffs after the industry hired heavily during the pandemic, including among behemoths such as Amazon and Google.

In addition to the job cuts, the company will also scale back the number of contracts within its alternative workforce over the coming months, Iannone added in the note.

Last February, eBay announced plans to lay off 500 employees globally, representing 4 percent of its total workforce.