EBay cutting 1,000 jobs as tech layoffs mount in 2024

EBay is cutting more than 1,000 jobs, or about 9 percent of its full-time employees while downsizing their contracts with “alternate workforce,” CEO Jamie Iannone announced Tuesday as tech layoffs continue into 2024. 

Iannone mentioned that the “headcount and expenses” surpassed the “growth” of the business, while noting external factors also contributed to the decision. 

“Despite facing external pressures, like the challenging macroeconomic environment, we know we can be better with the factors we control,” the note said.

“While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business. 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.” 

Iannone said employees who will be laid off will be notified on Zoom by their team leaders. 

He requested that employees work from home Wednesday to provide “some space and privacy for these conversations.” 

“We’re committed to treating everyone with respect and empathy through this transition and providing impacted employees with support and resources,” the note said. 

EBay is the latest tech company to announce layoffs in the new year, after a tough year for tech workers last year.

TikTok laid off dozens of advertising and sales unit employees on Tuesday. Last week, YouTube, the world’s most popular video platform, cut 100 employees. The same week, Google sent out a note, saying that “several hundred” employees would be cut. 

California-based EBay exercised layoffs in February when it slashed 4 percent of its workforce, also pointing to “the global macroeconomic environment.”