Tech layoffs 2024: eBay to cut 1,000 jobs; Says, ‘Change is needed’

The start of 2024 has heralded massive workforce cuts in the technology industry, affecting notable organizations like Google, Amazon, and Bytedance. And it’s highly likely that these layoffs will continue, as tech leaders including Google CEO Sundar Pichai have indicated.

Now, in a recent development, popular e-commerce platform eBay has announced its decision to lay off around 1,000 employees, representing 9% of its total full-time workforce. Additionally, the company intends to lay off an undisclosed number of contract employees in the coming months. eBay says “change is needed” despite reportedly making a $1.3 billion profit last quarter.

“Our strategy is sound, but there is more we can do to ensure our success. We need to better organize our teams for speed – allowing us to be more agile, bringing together similar work and helping people make decisions more quickly,” said Jamie Iannone, president and CEO of eBay. . He also said eBay plans to “reduce the number of contracts we have within our alternative workforce in the coming months.”

He added: “These are not actions we take lightly – and we recognize the impact it will have on all eBayers. We have to say goodbye to people who have made so many important contributions to the eBay community and culture, and that’s not easy.”

Additionally, the company also says that this is also in line with its effort to unify some teams and create a better user experience for its customers.

Notably, this recent reduction in the workforce comes in the wake of several technology-related layoffs within the industry.

In early January, Google began laying off layoffs, affecting hundreds of employees across various teams. This included hundreds of people from its voice assistant unit as well as employees from the hardware team responsible for the Pixel, Nest and Fitbit. Additionally, Google made workforce adjustments to its augmented reality team and central engineering team.

Meanwhile, Amazon is also in the process of downsizing by laying off hundreds of employees at its Prime Video and MGM Studios divisions, Forbes reports. The company reportedly reviewed “almost every aspect” of its business operations before making the decision.