EBay to cut about 9% of global workforce

Oct 22 — EBay said on Thursday it will cut about ​9% of its global workforce as part of a restructuring plan to move resources ‌to its top strategic priorities, confirming an exclusive Reuters report from ⁠earlier this week.

The online ​marketplace operator also said ⁠it expects to report third-quarter results above ‌the forecast it ‌issued with its August earnings report.

Here are some more ⁠details:

• The company ⁠expects to incur pretax restructuring charges of $130 million to $150 million, mostly tied to severance and post-employment benefits

• Most of the charges will be recorded in the fourth quarter of 2026 and ‌are expected to result in ​future cash expenditures, eBay said in a regulatory filing

• CEO Jamie Iannone had told employees in an internal memo reviewed by Reuters that the company was simplifying operations and redirecting resources toward its fastest-growing areas

• The workforce reduction is expected ​to affect roughly 1,000 employees, a spokesperson ‌for eBay had ‌confirmed ⁠to Reuters. The company had 12,300 employees at the end of last year

• In February, EBay laid off about 6% of its workforce, or 800 ‌employees, as part ​of efforts to streamline operations, ‌following its $1.2 billion ⁠acquisition ​of Depop

(Reporting by Anhata Rooprai in Bengaluru; Editing by ​Devika Syamnath)

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