eBay to lay off 1,000 employees – 9% of company shares

team,

We are building a stronger eBay for the future, a business that continues to grow and can handle any challenge. Over the past three years, we’ve fundamentally transformed the experience across categories and accelerated the pace of innovation at eBay. Across the areas in which we invest, we see continued improvements in customer satisfaction and meaningful improvements in our growth relative to the market.

Our strategy is sound, but we can do more to ensure our success. We need to organize our teams better to increase speed – making us more nimble, bringing similar work together, and helping us make decisions faster. Today, I’m sharing news about the changes we’re implementing to help eBay better position itself for long-term, sustainable growth.

The most important and difficult of these decisions is to reduce our current workforce by approximately 1,000 positions, or approximately 9% of full-time employees. In addition, we plan to reduce the number of contracts for employees on the waiting list in the coming months. We do not take these actions lightly and recognize the impact they will have on all eBay users. We have to say goodbye to those who have made so many important contributions to the eBay community and culture, and it’s not easy.

need for change

Despite external pressures, such as a challenging macroeconomic environment, we know we can do better through factors within our control. While we are making progress with our strategy, our total headcount and expenses have outpaced the growth of our business. To address this, we are implementing organizational changes, aligning and integrating certain teams to improve the end-to-end experience and better meet the needs of our customers around the world.

Next step

Soon we will begin notifying those employees whose roles have been eliminated and entering into a consultation process where needed. Leaders will deliver the news directly via Zoom, and your VP or eLT members will send emails when notifications are complete in their groups.

We are asking all U.S. employees to work from home on January 24 to provide some space and privacy for these conversations. We are committed to treating everyone with respect and compassion during this transition and providing support and resources to impacted employees.

Looking to the future

These changes are difficult, but I believe that by working together, we will emerge stronger than ever. In the coming months, you will see a more focused, agile, and responsive eBay that is better able to advance our goal of creating economic opportunity for all.

Thank you,

Jamie

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