EBay to slash 1,000 roles, or 9% of full-time employees, joining tech giants Amazon, Alphabet in making job cuts

“To address this, we’re implementing organisational 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.”

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The announcement marks the second round of job reductions at eBay in a year. The online marketplace in February 2023 said it would cut about 500 employees, or about 4 per cent of its workforce, citing a slowdown in consumer spending following the pandemic-fuelled e-commerce boom.

For years, eBay has been losing market share to bigger rivals such as Amazon.com and Walmart and has been gradually selling pieces of the company.

Chief executive officer Jamie Iannone is trying to find niches for the site, such as luxury watches and collectibles, as well as highlighting refurbished items to appeal to cost-conscious shoppers.

The company had 132 million active buyers as of September 30, down 3 per cent from a year earlier.

The shares gained about 4 per cent in extended trading after closing at US$41.41 in New York. The stock has declined 13 per cent in the past 12 months.