February 9, 2023
1 min read

E-commerce giant eBay to fire 500 employees

Jamie Iannone, CEO of eBay, announced the layoffs on Tuesday in a note to staff that was also filed with the US Securities and Exchange Commission (SEC)…reports Asian Lite News

E-commerce giant eBay has announced to lay off around 500 workers, about 4 per cent of its staff globally, citing the macroeconomic situation.

Jamie Iannone, CEO of eBay, announced the layoffs on Tuesday in a note to staff that was also filed with the US Securities and Exchange Commission (SEC).

Iannone said that actions taken are designed to strengthen the company’s ability to deliver better end-to-end experiences for its customers and to support more innovation and scale across the platform.

“This shift gives us additional space to invest and create new roles in high-potential areas — new technologies, customer innovations and key markets — and to continue to adapt and flex with the changing macro, e-commerce and technology landscape. We’re also simplifying our structure to make decisions more effectively and with more speed,” he said in the note.

He further added that the move will allow eBay to focus on “where we can make the biggest impact”, including expanding the company’s categories of focus.

Meanwhile, video communication app Zoom is also laying off about 1,300 people, or 15 per cent of its workforce, its CEO Eric Yuan has announced.

Yuan also said that he is reducing his salary for the coming fiscal year by 98 per cent and foregoing his FY23 corporate bonus.

ALSO READ: India received $89,127mn, highest ever remittances in 2021-22

Previous Story

boat leads India’s wearable exports

Next Story

Airtel teams up with Cloud computing firm Vultr

Latest from Business

‘India’s Digital Hub Ascends’

The event also featured discussions on the Quad Partnership for Cable Connectivity and Resilience, reiterating commitments made during the July 1 Quad Foreign Ministers’ Meeting India’s growing role as a key digital

India’s Job Market Surges

With hiring levels on the rise, compensation is expected to increase by 12-15% in metro cities and by 18-22% in emerging cities India’s festive season this year is poised to create more

India Inc Eyes Upswing

Private equity (PE) remained comparatively stable in Q2, clocking 357 deals worth $7.4 billion — the second-highest volume since Q4 2022. However, deal values dipped on a quarter-on-quarter basis due to the

Apple Appoints Sabih Khan as New COO

Khan will take over from Jeff Williams, who is stepping down from the role this month and will retire later this year…reports Asian Lite News Apple has announced that Sabih Khan, an
Go toTop

Don't Miss

Jaishankar flags quarantine issue at meet with UK counterpart

Under new British rules unveiled last week, Indians who have

Rijiju drops hints on party’s stand on Uniform Civil Code

BSP’s Kunwar Danish Ali said that it should not be