E-commerce company eBay will lay off about 1,000 employees, about 9% of its full-time workforce, and cut the number of outsourced workers, Bloomberg reported today.
eBay justifies the move by saying its workforce and expenses have outpaced business growth at a time when economic growth is slowing.
The company must be “more flexible” in the face of a “challenging” economic environment, San Jose, California-based eBay said in a statement released Tuesday.
“While we have made progress on our strategy, our headcount and our expenses are outpacing the growth of our business,” he continued.
In addition, eBay says it is “implementing organizational changes” that “unite and consolidate” certain teams to “improve the experience” and “better meet” the needs of customers around the world.
This is the second time eBay has laid off employees in a year.
eBay joins more than 60 other tech companies, including Amazon and Alphabet, which control Google, in laying off nearly 11,000 workers, according to Layoffs.fyi, which tracks layoffs in the tech industry.