“Our strategy is working,” says eBay CEO, as he announces layoffs
Jamie Iannone says eBay will cut about 9% of its workforce, or roughly 1,000 jobs, as it narrows focus to fastest-growing areas.
EBay will lay off about 9% of its workforce as the online marketplace looks to simplify operations and shift resources to its fastest-growing areas, CEO Jamie Iannone told staff in a memo on Wednesday. A company spokesperson confirmed the layoffs, saying the move will eliminate around 1,000 jobs.
"Our strategy is working," Iannone said in the memo, adding that "continuing to capture the significant opportunity ahead requires us to make thoughtful choices about where we focus and invest." He said affected employees would be informed in the coming days.
The company had 12,300 employees at the end of last year. It also let go about 6% of its workforce, or 800 employees, in February, as part of efforts to streamline operations. Taken together, this year's two rounds amount to roughly 1,800 jobs, or nearly 15% of the year-end headcount. That total is a calculation from the reported figures, not a number eBay has given.
The cuts come as the stock is doing well. EBay has set itself apart from rivals by pushing into authenticated luxury goods, collectibles and refurbished products, which draw enthusiasts willing to pay more for valuable items. Its shares have risen nearly 40% this year, against about 12% for the S&P 500.
EBay has also benefited this year from its $1.4 billion deal for fashion resale platform Depop, which expanded its reach among younger consumers and strengthened its position in the growing re-commerce market. That helped the company forecast third-quarter revenue above Wall Street estimates when it last reported results, in August. It is due to report its latest earnings next week.
The turnaround has drawn outside attention. GameStop CEO Ryan Cohen made an unsolicited $56 billion bid for the much larger eBay in May. EBay rejected the offer, saying it was "neither credible nor attractive."
In May 2025, eBay said it would close its Israeli operation altogether. "After careful consideration, we have made the difficult decision to close our office in Israel in the first quarter of 2026," the company said. More than 200 employees were affected.
