eBay Laying Off Thousands of Employees Due to ‘External Pressures’

E-commerce giant eBay announced on Jan. 23 that it is laying off 1,000 of its full-time employees, citing “external pressures,” including a  “challenging macroeconomic environment.” CEO Jamie Iannone initially announced the job cuts in an internal notice that was later published on the company’s official website. Mr. Iannone stated the layoffs—which will impact an estimated 9 percent of full-time employees—are a necessary part of eBay’s strategy to “ensure our success” and better position it for “long-term, sustainable growth.” “We need to better organize our teams for speed—allowing us to be more nimble, bring like-work together, and help us make decisions more quickly,” he said. “Despite facing external pressures, like the challenging macroeconomic environment, we know we can be better with the factors we control. While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business.”...