eBay is reducing its workforce by approximately 800 employees, which represents about 6% of its full-time staff. The company stated that it is taking steps to reinvest in its business and align its organizational structure with its strategic priorities, which will impact certain roles. eBay expressed gratitude for the contributions of the affected employees and committed to supporting them during this transition.
This news follows eBay’s recent announcement to acquire Depop, a second-hand clothing app popular with Gen Z and millennials, from Etsy for $1.2 billion in cash. The acquisition was disclosed just one week prior to the layoff announcement.
The company also recently reported its fourth-quarter financial results, showing a 15% increase in revenue to $3 billion, which exceeded analysts’ expectations.
This latest round of job cuts is the third such action by eBay in the past three years. In early 2024, the company eliminated 1,000 jobs, or roughly 9% of its workforce. The previous year, in early 2023, eBay laid off about 500 employees, representing approximately 4% of its staff at the time.