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eBay joins Google and Amazon in employee layoffs, thousands affected: Know more

eBay is letting go of 1,000 employees (9 per cent of its workforce) to make the company more efficient, despite making a profit, and similar changes are happening in other big companies too.

Written By: Vishal Upadhyay New Delhi Updated on: January 24, 2024 14:25 IST
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Image Source : FILE eBay joins Google and Amazon in employee layoffs

eBay is making changes in its company, and unfortunately, it means some people will lose their jobs. The company plans to let go of about 1,000 full-time employees, which is around 9 per cent of its total workforce. They will also be reducing the number of contract workers in the coming months.

Reasons for the changes

Even though eBay made a profit of $1.3 billion last quarter, the company believes there's a need for change. The CEO, Jamie Iannone, mentioned that they want to organise their teams better to work faster, make decisions more quickly, and improve overall efficiency.

Internal communication

The company is making adjustments in how teams are structured to enhance the experience for customers globally. The news about the layoffs will be communicated directly through online meetings, like Zoom, and employees will receive follow-up emails from their team leaders.

Work from home

In light of these changes, eBay has asked all its US employees to work from home on January 24. This is to provide a comfortable space for discussions around these important matters.

Support and empathy

According to IANS, the company reassured that they are committed to treating everyone with respect and empathy during this transition. They plan to provide support and resources for the employees who are affected.

Hiring concerns

One of the reasons mentioned for the layoffs is that eBay admits to hiring too quickly. While they are progressing with their plans, the growth of their workforce and expenses has been faster than the growth of their business.

Industry trend

Other big companies like Google, Amazon, and Meta (the company behind Facebook, Instagram, and WhatsApp) are also making changes in their workforce to adapt to evolving business landscapes and pursue new visions. This seems to be a broader trend in the industry.

Inputs from IANS 

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