Online retailer eBay is cutting approximately 1,000 full-time jobs—nearly 9% of its workforce—the e-commerce giant announced Tuesday in an email to employees.
According to CEO Jamie Iannone, the cuts are part of organizational changes due to "external pressures" and slower business growth. Iannone called the job cuts necessary to be spry amid economic challenges.
"While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business," he said in the email. "To address this, we're implementing organizational changes that align and consolidate certain teams to improve the end-to-end experience, and better meet the needs of our customers around the world."
The San Jose-based eBay had a total workforce of 11,600 at the end of 2022, according to the U.S. Securities and Exchange Commission.
The CEO said the company is looking to "better organize our teams for speed" and make decisions faster. Employees whose jobs are eliminated will be notified starting Wednesday.
"Additionally, we plan to scale back the number of contracts we have within our alternate workforce over the coming months," Iannone said in the email. "These are not actions we take lightly—and we recognize the impact they will have on all eBayers."
It was not immediately clear which eBay offices would be impacted by the cuts. The company has a location at 300 Mission St. in San Francisco.
"We request that all U.S. employees work from home on January 24th to provide some space and privacy for these conversations," Iannone told employees.