eBay to cut 1,000 jobs, scale back contracts

eBay layoff plans: eBay Inc revealed on Tuesday its intention to cut approximately 1,000 positions, equivalent to an estimated 9 per cent of its current workforce. 

decision comes as e-commerce giant dresses a situation where overall hecount and expenses have surpassed growth of its business, according to a letter from eBay CEO Jamie Ianne shared with employees. 

se organisational changes aim to align and consolidate certain teams, enhancing end-to-end experience for customers worldwide. 

move follows a broer trend of tech layoffs in US after significant industry hiring during pandemic, with major players like Amazon and Google also making justments. 

In dition to job cuts, eBay plans to scale back number of contracts within its alternative workforce over coming months. 

Last February, company h alrey anunced intentions to lay off 500 employees globally, constituting 4 per cent of its total workforce.

(With Reuters Inputs)