Online marketplace company eBay says it will lay off 9% of its workforce, citing a difficult macroeconomic environment.Those job cuts will affect about 1,000 full-time employees of the eCommerce platform, CEO Jamie Iannone said in a message posted on the company’s website Tuesday (Jan. 23).“Our overall head count and expenses have outpaced the growth of our business,” said Iannone. “We need to better organize our teams for speed — allowing us to be more nimble, bring like-work together, and help us make dec ...

Key TakeawayseBay shares traded higher after the e-commerce retailer said it plans to cut 1,000 jobs, or roughly 9% of its workforce.CEO Jamie Iannone told employees in a letter that the company's headcount had outpaced the growth of the business.eBay's stock price has traded within a descending channel since early June, with the pattern's upper and lower trendlines marking key support and resistance areas. eBay Inc. Source: TradingView.comShares of online marketplace platform eBay (EBAY) gained nearly 3 ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: In this Feb. 24, 2010 file photo, an eBay logo is seen at their offices in San Jose, Calif. Online retailer eBay Inc. will cut about 1,000 jobs, or an estimated 9% of its full-time workforce, saying its number of employees and costs have exceeded how much the business is growing in a slowing economy. It marks the latest layoffs ...

eBay Inc (NASDAQ:EBAY, ETR:EBA) will cut around 1,000 of its jobs, constituting about 9% of its workforce. "While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business," Jamie Iannone, CEO at the reselling site, said in a letter to employees. "To address this, we're implementing organizational changes that align and consolidate certain teams to improve the end-to-end experience, and better meet the needs of our customers around the world.” O ...

eBay will begin reducing its workforce by approximately 9% – about 1,000 full-time roles – in efforts to "better position eBay for long-term, sustainable growth," the company announced Tuesday. In a news release, which was also sent to employees, eBay president and CEO Jamie Iannone said the "fundamental changes" put into place over the past three years have "accelerated the pace of innovation" and resulted in increased customer satisfaction and improved market growth, but "there is more" the company can do ...

The online retailer eBay Inc will cut about 1,000 roles, or an estimated 9% of its current workforce, the company said on Tuesday.“While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business,” the eBay CEO, Jamie Iannone, said in a letter shared with employees.“To address this, we’re implementing organizational changes that align and consolidate certain teams to improve the end-to-end experience, and better meet the needs of our customers ar ...

EBay Inc. said late Tuesday it will cut about 1,000 jobs, or 9% of its full-time workforce, in order to better position the company for future sustainable growth. “Our overall headcount and expenses have outpaced the growth of our business,” Chief Executive Jamie Iannone said in a letter to employees that eBay posted on its website. “To address this, we’re implementing organizational changes that align and consolidate certain teams to improve the end-to-end experience, and better meet the needs of our cu ...

 eBay said Tuesday that it plans to lay off 9% of the company's workforce, equating to 1,000 full-time employeesJamie Iannone, the president and CEO of eBay, detailed the layoffs on Tuesday in a letter to employees that was published on a corporate blog, adding that the ecommerce firm will also "scale back the number of contracts we have within our alternate workforce over the coming months."This is breaking news. Please check back for updates. ...

ymgerman Introduction When it comes to the market, I'm not necessarily bearish. However, I'm cautious because of two reasons. Stocks are trading at lofty valuations, especially after the market decided to price in six rate cuts for 2024 over the past three months. According to a recent Bloomberg article, a remarkable decade has unfolded for U.S. stocks, rewarding buy-and-hold investors while outperforming other asset classes, as we can see in the chart below. Since 2013, the S&P 500 has returned 11.9% per ...

eBay (NASDAQ:EBAY) stock closed down 1.5% Friday on news that the e-commerce market will have to pay a $3 million criminal penalty for harassment and intimidation on the part of several company executives. Indeed, the executives sent a bloody pig mask, live insects, and a funeral wreath to a Massachusetts couple as recompense for some unkind online coverage of eBay, according to the Department of Justice. “eBay engaged in absolutely horrific, criminal conduct. The company’s employees and contractors involve ...