Ebay to lay off 500 employees
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E-COMMERCE firm eBay Inc said on Tuesday it will lay off 500 employees globally, representing 4 per cent of its total workforce.
Shares of the San Jose, California-based company rose about 1 per cent in aftermarket trade.
“This shift gives us additional space to invest and create new roles in high-potential areas – new technologies, customer innovations and key markets,” said Jamie Iannone, chief executive officer of Ebay in a message to employees.
A raft of US companies from Goldman Sachs Group to Alphabet have laid off thousands this year to ride out a demand downturn wrought by high inflation and rising interest rates. REUTERS
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