CEO Jamie Iannone addressed the staff in a memo, stating that while the company's strategy is working, the business must make difficult choices to remain competitive. The layoffs arrive during a period of shifting priorities, as eBay balances a shrinking headcount with aggressive investments in artificial intelligence and platform expansion.
This restructuring follows a series of strategic maneuvers, including the $1.4 billion acquisition of the resale platform Depop, finalized in July. Despite the workforce contraction, the company maintains it will continue hiring in specific sectors aligned with its long-term goals. Following the announcement, shares of the online marketplace rose by approximately 1% in Wednesday morning trading.
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