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eBay will reduce about 1,000 jobs, or 9 per cent of its full-time staff, and cut back work for its outdoors contractors, saying its staffing and bills have outpaced development.
The e-commerce firm mentioned it must be “extra nimble” within the face of a “difficult” financial setting.
“Whereas we’re making progress towards our technique, our total headcount and bills have outpaced the expansion of our enterprise,” the San Jose, California-based firm mentioned Tuesday in a press release.
“To handle this, we’re implementing organisational modifications that align and consolidate sure groups to enhance the end-to-end expertise, and higher meet the wants of our prospects world wide.”
How are China’s younger graduates and universities dealing with excessive unemployment?
How are China’s younger graduates and universities dealing with excessive unemployment?
The announcement marks the second spherical of job reductions at eBay in a yr. The web market in February 2023 mentioned it will reduce about 500 staff, or about 4 per cent of its workforce, citing a slowdown in shopper spending following the pandemic-fuelled e-commerce increase.
For years, eBay has been shedding market share to greater rivals reminiscent of Amazon.com and Walmart and has been regularly promoting items of the corporate.
Chief govt officer Jamie Iannone is looking for niches for the location, reminiscent of luxurious watches and collectibles, in addition to highlighting refurbished gadgets to attraction to cost-conscious customers.
The corporate had 132 million energetic consumers as of September 30, down 3 per cent from a yr earlier.
The shares gained about 4 per cent in prolonged buying and selling after closing at US$41.41 in New York. The inventory has declined 13 per cent previously 12 months.
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