eBay Inc. to lay off 500 employees in order to cut costs and improve efficiency

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eBay Inc. announced plans to lay off 500 employees in order to cut costs and improve efficiency. This move is expected to affect 4% of their total workforce, with job losses occurring globally. Following the announcement of layoffs, the company’s stock rose nearly 1% in aftermarket trading.

“This move allows us extra room to invest and create new positions in high-potential areas – new technology, consumer improvements, and critical markets,” said eBay CEO Jamie Iannone in a note to employees. The IT job crisis is worsening as more companies announce layoffs. In recent weeks, a number of companies, including Microsoft, Meta, Amazon, and Google, have announced layoffs as many workers face uncertainty.

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eBay Inc. to lay off 500 employees in order to cut costs and improve efficiency

eBay Inc. announced plans to lay off 500 employees in order to cut costs and improve efficiency. This move is expected to affect 4% of their total workforce, with job losses occurring globally. Following the announcement of layoffs, the company’s stock rose nearly 1% in aftermarket trading.

“This move allows us extra room to invest and create new positions in high-potential areas – new technology, consumer improvements, and critical markets,” said eBay CEO Jamie Iannone in a note to employees. The IT job crisis is worsening as more companies announce layoffs. In recent weeks, a number of companies, including Microsoft, Meta, Amazon, and Google, have announced layoffs as many workers face uncertainty.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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