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eBay will lay off 1,000 employees — 9 percent of the company
It’ll scale back contract workers, too.
Despite reporting profit of $1.3 billion last quarter, which it described as “another quarter of solid results,” eBay today suggests that there is a “Need for Change.” Company president and CEO Jamie Iannone writes that “there is more we can do to ensure our success,” and argues that eBay should be a “more nimble” company that “makes decisions more quickly” to position itself for “long-term, sustainable growth.” eBay also argues that it hired too quickly, an excuse tech companies have been trotting out for over a year: “While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business,” writes Iannone. Leaders will communicate the news directly via Zoom, and your VP or eLT member will send an email once the notifications in their group have been completed.
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