eBay to lay off 800 staff

eBay has revealed plans to eliminate approximately 800 positions, which equates to 6% of its full-time workforce. The company stated that this decision is part of a broader strategy to realign its organizational structure with its key business priorities. In an official statement, eBay expressed gratitude for the contributions of those affected and emphasized its commitment to supporting them with dignity and care. This announcement follows closely on the heels of eBay's recent acquisition of Depop, a popular second-hand clothing platform favored by Gen Z and millennials, for $1.2 billion in cash, a deal finalized with Etsy. Just last week, eBay also reported a robust fourth-quarter performance, with revenues climbing 15% to reach $3 billion, surpassing analysts' expectations. These layoffs represent eBay's third significant workforce reduction in the last three years. Earlier in 2024, the company laid off 1,000 employees, around 9% of its total staff, and in early 2023, it cut about 500 jobs, which was roughly 4% of its headcount. This ongoing trend reflects eBay's efforts to streamline operations while navigating a competitive marketplace.