eBay became the latest company to lay off it’s workforce in 2024, following the leads of other tech companies who made similar announcements this month.
In it’s press release, eBay stated cutting 1,000 roles, translating to roughly 9% of it’s staff. While the company didn’t mention the severance pay or exiting benefits for outgoing employees, it asked US employees to work from home from January 24. It’s also planning to cut down the number of contractors it hires in the coming months.
Cutting Employees Due to Over-hiring
The first month of 2024 isn’t going well for tech employees, as many companies are cutting down jobs to stay afloat in the economy. We’ve seen Google, Twitch, Discord, Amazon and Unity announce their share of layoffs and now, eBay has joined the list.
The online marketplace has today announced cutting down around 1,000 roles, which is about 9% of the company’s full-time employees. Also, eBay asked it’s US employees to work from home on January 24 and that they will inform the affected staff “shortly“.
The press release didn’t mention severance or benefit details, like other companies that mentioned paying a part of their salary for the outgoing employees. Furthermore, eBay is scaling back the number of contractors it hires over the coming months.
The company reasons the fresh round of layoffs is due to over-hiring, like it’s peers, who did the same during the COVID-19 pandemic. eBay CEO Jamie Iannone said, “While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business“.
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