Markets & Business
eBay to lay off around 800 employees, 6% of staff
eBay is cutting around 800 jobs, or 6% of its full-time workforce, according to Bloomberg, which first reported the news.
eBay confirmed the cuts in a statement, saying the changes will let it “reinvest across our business and align our structure with our strategic priorities, which will affect certain roles across our workforce.” The company added that it is grateful for the contributions of the employees affected and is committed to supporting them with care and respect.
The cuts follow eBay’s announcement a week earlier that it would acquire Depop, the secondhand-clothing app popular with Gen Z and millennial shoppers, from Etsy for $1.2 billion in cash. eBay also reported fourth-quarter results last week, with revenue rising 15% to $3 billion, exceeding analysts’ expectations.
This is the third round of layoffs at eBay in the past three years. The company cut 1,000 jobs, or about 9% of its workforce, in early 2024, and laid off about 500 employees, or about 4% of its headcount, in early 2023.
Why it matters
Repeated rounds of layoffs alongside an acquisition and revenue growth suggest eBay is reallocating spending toward its strategic priorities — including newer bets like Depop — even as its core marketplace business keeps growing.