eBay Cuts 1,000 Jobs

LONDON (AP) — Online retailer eBay Inc. will cut about 1,000 jobs, or an estimated 9% of its full-time workforce.

CEO Jamie Iannone said in a message to employees on Tuesday that the company’s number of employees and costs have exceeded how much the business is growing in a slowing economy.

He also said eBay will reduce how many “contracts we have within our alternate workforce over the coming months.”

It’s the latest tech company to roll out a series of layoffs after quickly ramping up hiring during the COVID-19 pandemic when people spent more time and money online.

Now, companies from Google to Amazon have been making painful job cuts to reduce costs and bolster their bottom lines.