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eBay is firing thousands of its workers because online commerce is no longer doing well

eBay is firing thousands of its workers because online commerce is no longer doing well

January 24, 2024 – 06:07

Online retailer eBay announced in a statement Tuesday that it will cut 9 percent of its current jobs and lay off nearly 1,000 workers.

eBay CEO Jimmy Iannone wrote in a letter to employees that headcount and expenses outpaced business growth, leading to layoffs.

eBay swelled its headcount due to the coronavirus outbreak after people became accustomed to safe online shopping, which was the only option for many, but the boom at that time has now disappeared. The same thing happened at big tech companies like Google and Amazon, where the layoffs came after just a few years of rapid headcount increases. eBay actually laid off some of its employees last year, when contracts with five hundred people were terminated.

Iannone also said workers who lost their jobs will be notified via Zoom meeting. All US employees have been asked to work from home on Wednesday, when many layoff notices will be delivered, so that these conversations can take place in a quiet environment.

(via NPR)

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