EBay to cut about 9% of jobs in effort to streamline operations, memo shows

EBay EBAY-Q will lay off about 9 per cent of its work force as the online marketplace looks to simplify operations and shift resources to its fastest-growing areas, CEO Jamie Iannone told staff in a memo that was reviewed by Reuters. A spokesperson for eBay confirmed the layoffs to Reuters on Wednesday. The move will eliminate around 1,100 jobs, based on the 12,300 employees eBay had at the end of last year. The company also let go about 6 per cent of its work force, or 800 employees, in February as part of efforts to streamline operations. Qualcomm to cut jobs globally in ‘performance-focused’ layoffs, internal memo showsEBay has set itself apart from rivals by pushing into authenticated luxury goods, collectibles and refurbished products, which draw enthusiasts willing to pay more for valuable items. That has helped its shares rise nearly 40 per cent this year, outperforming the benchmark S&P 500’s around 12 per cent gain. “Our strategy is working,” Iannone said in the memo, adding that “continuing to capture the significant opportunity ahead requires us to make thoughtful choices about where we focus and invest.”He said affected staff would be informed in the coming days.