eBay Cuts 800 Jobs as it Reshapes Workforce Around Strategic Priorities

eBay Inc. (NASDAQ:EBAY) is included among the 13 Best March Dividend Stocks to Buy.

On February 26, Bloomberg reported that eBay Inc. (NASDAQ:EBAY) plans to cut about 800 jobs, which account for roughly 6% of its full-time workforce. The company indicated that the decision was part of an effort to better align staffing levels with its strategic priorities. At the same time, eBay said it will continue hiring in areas it considers critical to its future growth. The company made the following statement:

“We are taking steps to reinvest across our business and align our structure with our strategic priorities, which will affect certain roles across our workforce. We are grateful for the contributions of the employees impacted and are committed to supporting them with care and respect.”

The announcement came just one week after eBay revealed plans to acquire secondhand fashion platform Depop for about $1.2 billion, a move aimed at attracting younger shoppers. It also followed a strong quarterly report, where revenue rose 15% year over year to $3 billion in the fourth quarter, beating analyst expectations.

This marks the third round of layoffs in the past three years. In early 2024, eBay eliminated around 1,000 positions, or about 9% of its workforce, explaining that labor expenses had grown faster than the business itself. A year earlier, in early 2023, the company cut roughly 500 jobs, or 4% of its staff, pointing to weaker consumer spending after the surge in online shopping during the pandemic began to ease.

eBay Inc. (NASDAQ:EBAY) operates as a global commerce platform, using its technology to connect buyers and sellers across more than 190 markets worldwide.

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