eBay to layoff 1,000 employees to position itself for "long-term, sustainable growth"
SAN FRANCISCO — Another wave of tech layoffs hit the Bay Area Tuesday as eBay said it would be getting rid of 1,000 employees.
That number accounts for about 9% of eBay's workforce, and the company said it would also be eliminating some of its contracts within their alternate workforce over the next few months.
President and CEO of Ebay Jamie Lannone said the layoffs were made to "better position eBay for long-term, sustainable growth."
"While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business," Lannone said.
Further elaborating on the layoffs, Lannone said the company needs to better organize its teams "for speed" which would allow them to be "more nimble bring like-work together and help us making decisions more quickly."
The announcement of layoffs at eBay are the latest with Google's CEO warning of layoffs in the months ahead.
Tech Layoffs
Google is expected to layoff more of its workforce in the coming months even as it cut hundreds of employee positions in mid-January.
"We have ambitious goals and will be investing in our big priorities this year," CEO Sundar Pichai added. "The reality is that to create the capacity for this investment, we have to make tough choices …. [and] to simplify execution and drive velocity in some areas."
In December, several people working for Cruise were hit with layoffs as the company was being investigated over an October incident where an autonomous Cruise vehicle ran over a hit-and-run victim and
