eBay to slash 1,000 jobs, scale back contracts

(Reuters) -eBay Inc will cut about 1,000 roles, or an estimated 9% of its current workforce, the e-commerce retailer said on Tuesday.

“While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business,” eBay (NASDAQ:) CEO Jamie Iannone said in a letter shared with employees.

“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 job cuts follow a wave of U.S. tech layoffs after the industry hired heavily during the pandemic, including among behemoths such as Amazon (NASDAQ:) and Google (NASDAQ:).

In addition to the job cuts, the company will also scale back the number of contracts within its alternative workforce over the coming months, Iannone added in the note.

Last February, eBay announced plans to lay off 500 employees globally, representing 4% of its total workforce.