eBay will cut about 9% of its workforce to streamline operations and focus on its fastest-growing areas, a company spokesperson confirmed to CNBC. The layoffs will affect about 1,000 employees.
“As we work to seize the important opportunities ahead, this step is taken to ensure we continue to operate from a position of strength by aligning our teams and resources with our key strategic priorities,” the spokesperson said in a statement.
The company also said it will continue to hire in “priority areas that align with our strategy.” By the end of 2025, eBay will have about 12,300 employees.
Reuters first reported the news, citing a memo to staff from CEO Jamie Iannone that read in part, “Our strategy is working.”
“Continuing to seize the important opportunities ahead requires us to make wise choices about where we focus and invest,” Iannone said in the memo, seen by Reuters.
This is the second round of layoffs for the online marketplace this year, following a 6% workforce reduction that affected around 800 employees, in February. The company has been steadily reducing headcount in recent years and has also increased spending on artificial intelligence.
EBay also acquired used clothing resale platform Depop – a brand with a strong Gen Z customer base and millennial users – from Etsy earlier this year. The $1.4 billion deal was finalized in July.
eBay shares were up about 1% Wednesday morning.
– CNBC’s Ani Palmer contributed to this report.