E-commerce giant eBay is set to cut around 1,000 jobs, representing approximately 9% of its full-time workforce. The move follows similar downsizing by tech companies like Discord and Riot Games. eBay cited overhiring in recent years as a reason for the layoffs. The affected US employees were asked to work from home on January 24, with notifications to those impacted expected shortly. The company also plans to reduce the number of contractors in the coming months. While eBay acknowledged progress in its strategy, it stated that overall headcount and expenses had outpaced business growth. Severance and benefit details were not disclosed in the announcement.

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Company Profile:-

Founded:- 1995
Industry: Auctions, E-Commerce, Internet, Marketplace, Retail
Location:- San Jose, California, United States
Total Funding:- NA
Company Stage:- Public
Founders:- NA
Website:- www.ebay.com
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