The process of retrenchment continues this year too, company preparing to fire 1000 employees

Amidst the ongoing economic turmoil around the world, the trend of companies firing their employees still continues. In this context, eBay has now announced that it is planning to lay off 9 percent of its employees. The company will lay off approximately 1,000 of its full-time employees. eBay said that there will be a huge decline in the tech industry in 2024. The company’s stock rose more than 3% in extended trading.

Company will reduce workforce

eBay CEO Jamie Iannone has given this information in a letter published on a corporate blog. He told his employees through this blog that the company will reduce its alternate workforce in the coming months. The company will also reduce the number of existing contracts.” Iannone further said that these layoffs are necessary because eBay’s total number of employees and expenses have outpaced the growth of the business.

There will be layoffs in some teams

He further said in the blog that to implement this, we are making some changes at the organization level, which are necessary to improve the end-to-end experience and better meet the needs of our customers around the world. Is. For this there will be layoffs in some teams. Soon, we will begin notifying employees whose roles it has been decided to eliminate. Along with this, the company will do its work wherever counseling is required.”