eBay Announces Layoffs, Cutting 1000 Jobs

Online retailer eBay is cutting about 1,000 jobs, approximately 9% of its full-time workforce, citing excessive costs and a slowing economy. CEO Jamie Iannone announced the layoffs, stating the need to reorganize teams for agility and quicker decision-making. This move follows a trend in the tech industry, with companies like Google, Amazon, and TikTok also making significant job cuts to reduce costs amidst economic challenges. eBay has also faced internal issues, including a recent criminal case involving a harassment campaign by its employees.