Tech Job Cuts: eBay announces the termination of 500 workers to cut expenses and improve productivity

This move is expected to account for 4% of their total workforce, with layoffs happening all over the world. The multinational e-commerce giant eBay has declared its intention to dismiss 500 employees to cut costs and enhance efficiency This move is estimated to be equivalent to 4% of their overall workforce, with job losses happening worldwide. The company’s shares increased by about 1% in after-market trading after the layoffs were announced. Jamie Iannone, CEO of eBay, sent a message to employees stating, “This change gives us more room to invest and create new positions in high-growth areas – new technologies, customer innovations, and vital markets.” The trend of layoffs in the tech sector continues as more and more companies are announcing cuts in their workforce. Names like Microsoft, Meta, Amazon, and Google have all reported layoffs in recent weeks, leaving many employees uncertain about their future.