eBay is laying off 9 percent of its workforce

The latest tech giant impacted by the economy is eBay, which announced earlier today that it is reducing its workforce by around 1,000 roles. That apparently equates to roughly 9 percent of the company's full-time employees. US employees are asked to work from home on January 24, and those affected will be notified "shortly." Unlike Discord and Riot Games, though, eBay's post stopped short at sharing severance or benefit details. The company also plans to scale back the number of contractors over the coming months.

eBay's impact scale matches that of Unity and Google from earlier this month, which doesn't paint a pretty picture for the tech scene right at the beginning of 2024. Like its peers, eBay blamed this round of layoff on having hired too many people in recent years. "While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business," president and CEO Jamie Iannone said in the memo. Hopefully LinkedIn's new AI-powered categorization tool will come in handy for those in need.

This article originally appeared on Engadget at https://www.engadget.com/ebay-is-laying-off-9-percent-of-its-workforce-035136287.html?src=rss