eBay to Cut About 9% of Workforce in Its Second Layoff Round This Year, Memo Shows

EBAY plans to cut about 9% of its workforce, according to an internal memo from CEO Jamie Iannone first reported by Reuters. The company says the cuts are meant to simplify operations and focus on its growth areas. Reuters estimated the reduction at about 1,100 jobs, based on 12,300 employees at the end of 2025, while Bloomberg, as cited by The Next Web, put it at about 1,000. eBay itself has not given a number, and Reuters reported that staff will be told in the coming days.

"Our strategy is working," Iannone wrote, adding that the next phase "requires us to make thoughtful choices about where we focus and invest," according to Reuters. This is eBay's second round of cuts this year, after about 800 jobs, or roughly 6% of staff, were eliminated in February. The company has leaned into authenticated luxury, collectibles and refurbished goods, and agreed to buy resale app Depop for $1.4 billion.

The stock reaction was muted. Shares were down 1.8% before the open, per Reuters, but ended the day up 1.4% at $122.90, according to SentiSense data. Reuters noted the stock was up nearly 40% this year against about 12% for the S&P 500. In May, eBay rejected an unsolicited $56 billion proposal from GameStop CEO Ryan Cohen as "neither credible nor attractive."

The next checkpoint is third-quarter results on October 28 after the close, where SentiSense's earnings calendar shows an EPS estimate of $1.41. Investors may look for the size of any restructuring charge, which eBay has not disclosed, and for detail on which growth areas will receive the freed-up resources.