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Last Updated: February 08, 2023, 09:23 IST
Ebay joins the layoffs bandwagon. (Image: Reuters)
Ecommerce firm eBay Inc said on Tuesday it will lay off 500 employees globally, representing 4% of its total workforce.
E-commerce firm eBay Inc (EBAY.O) said on Tuesday it will lay off 500 employees globally, representing 4% of its total workforce.
Shares of the San Jose, California-based company rose about 1% in aftermarket trade.
“This shift gives us additional space to invest and create new roles in high-potential areas – new technologies, customer innovations and key markets,” said Jamie Iannone, Chief Executive Officer of Ebay in a message to employees.
A raft of U.S. companies from Goldman Sachs Group Inc (GS.N) to Alphabet Inc (GOOGL.O) have laid off thousands this year to ride out a demand downturn wrought by high inflation and rising interest rates.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
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