Reuters exclusive: EBay to lay off 9% of workforce, internal 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.

Trade WarPublished: October 21, 2026 at 9:18a.m. EDTIndustry Minister Melanie Joly says Stelco owner Clevland-Cliffs has ‘spoken in favour of U. S. tariffs,’ putting Canadian jobs at risk. OTTAWA — Prime Minister Mark Carney and Ontario Premier Doug Ford are expected to unveil a new suite of supports for the steel and auto sectors hit by U. S. tariffs. Carney’s itinerary says he will meet with Ford on Parliament Hill today, with a joint announcement to follow. You can watch what is expected to be a major announcement for steel and auto sectors hit by U. S. tariffs LIVE here today at 2 p.m. ET on CTVNews.ca, the CTV News App, CP24.com and the CP24 AppA source with knowledge of the announcement but not authorized to speak publicly about the details, says support for critical minerals is also on the table. Carney and Ford’s respective finance ministers are also expected to be on hand. On Tuesday, federal Finance Minister François-Philippe Champagne said the Carney government will deliver its second budget on Nov. 5. Carney is set to depart for Ankara, Turkey later today. This report by The Canadian Press was first published Oct. 21, 2026.

Published: October 21, 2026 at 9:14a.m. EDTLONDON/PARIS -- Swiss skincare firm Galderma, Brazilian cosmetics group Natura and beauty giant L’Oreal are testing treatments for consumers worried about facial sagging and volume loss, looking to capitalize on a growing market tied to the boom in obesity drugs. The companies are targeting concerns known as “Ozempic face,” a term that emerged as the diabetes drug became widely associated with weight loss. Experts say the loss of facial volume is linked to rapid weight loss rather than GLP-1 drugs themselves. GLP-1 drugs, such as Novo Nordisk’s Ozempic and Wegovy and Eli Lilly’s Zepbound, help people to lose weight by mimicking a hormone that ​keeps the stomach feeling full. Along with gastrointestinal side effects, the resulting rapid weight loss can also lead to loose skin on the face and body. Pfizer estimates the obesity drug market could reach US$150 billion in annual sales by 2030, helping create a potentially lucrative opportunity for skincare and medical esthetics companies as more patients seek treatments for skin laxity and facial volume loss after rapid weight loss.

Published: October 21, 2026 at 8:56a.m. EDTAlicia Reese, SVP equity research, media & entertainment at Wedbush Securities, joins BNN Bloomberg to dive deeper into Netflix's earnings. Netflix shares dropped six per cent in premarket trading on Wednesday, after the company’s tepid profit and advertising outlook deepened investor concerns about slowing viewership and revenue growth amid stiff competition in the streaming industry. The stock has declined more than 26 per cent this year and, if current losses hold, the streaming giant is set to shed about US$19 billion in market value. The share performance underscores the mounting challenges facing Netflix — from losing a bidding war for Warner Bros Discovery earlier this year to defending its paid subscription model against free digital rivals and competing in an increasingly consolidated streaming market. Latest updates on company news hereAs viewers shift toward free, user-generated platforms such as YouTube and TikTok, Netflix is also contending with changing preferences in favor of short-form video over premium content.