eBay is set to cut around 1,000 jobs, equivalent to nine per cent of its global workforce, with the aim of simplifying its operations.
The latest round of redundancies follows eBay’s decision to axe approximately 800 roles, or six per cent of its workforce, in February as part of an earlier restructuring drive.
According to an internal memo seen by Reuters, eBay chief executive Jamie Iannone told employees that the business needed to make strategic decisions about where to concentrate its resources and investment.
“Our strategy is working,” Iannone said, adding that the company needed to make careful decisions about its future priorities to capitalise on growth opportunities.
An eBay spokesperson confirmed the job cuts, with affected employees expected to be notified in the coming days.
eBay is strengthening its focus on higher-value categories, including authenticated luxury goods, collectibles and refurbished products, marking what it sees as a differentiation from its rivals.
Earlier this year, eBay also struck a £1.05bn deal to acquire secondhand fashion platform Depop, expanding its reach among younger shoppers and bolstering its position in the growing resale market.
The company’s strategy has helped drive its shares up nearly 40 per cent this year, significantly outperforming the wider US stock market.
In August, eBay forecast third-quarter revenues ahead of Wall Street expectations, with its latest financial results due to be published next week.
The job cuts also follow an unsolicited $56bn takeover offer from GameStop chief executive Ryan Cohen in May, which eBay rejected on the grounds that the proposal was neither credible nor attractive.
Click here to sign up to Retail Gazette‘s free daily email newsletter
