Ebay Lays Off 1,000

Jan 23, 2024 eBay

Ensuring eBay’s Long-Term Success

Jamie Iannone, President and CEO

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A note from eBay’s CEO

Editor’s note: This note was sent to our internal workforce on Tuesday, Jan. 23.

Team,

We are on a path to building a stronger eBay for the future — one that is growing, and resilient in the face of any challenge. Over the past three years, we made fundamental changes in our experiences across categories and accelerated the pace of innovation at eBay. In areas where we’re investing, we are seeing consistent increases in customer satisfaction and a meaningful improvement in our growth relative to the market.

Our strategy is the right one, but there is more we can do to ensure our success. We need to better organize our teams for speed — allowing us to be more nimble, bring like-work together, and help us make decisions more quickly. Today, I am sharing news about changes we are implementing to better position eBay for long-term, sustainable growth.

The most significant and toughest of these decisions is to reduce our current workforce by approximately 1,000 roles or an estimated 9% of full-time employees. Additionally, we plan to scale back the number of contracts we have within our alternate workforce over the coming months. These are not actions we take lightly — and we recognize the impact they will have on all eBayers. We have to say goodbye to people who have made so many important contributions to the eBay community and culture, and this isn’t easy.

The Need for Change

Despite facing external pressures, like the challenging macroeconomic environment, we know we can be better with the factors we control. While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business. To address this, we’re implementing organizational changes that align and consolidate certain teams to improve the end-to-end experience, and better meet the needs of our customers around the world.

Next Steps

Shortly, we will begin notifying those employees whose roles have been eliminated and entering into a consultation process in areas where required. Leaders will communicate the news directly via Zoom, and your VP or eLT member will send an email once the notifications in their group have been completed.

We request that all U.S. employees work from home on January 24th to provide some space and privacy for these conversations. We’re committed to treating everyone with respect and empathy through this transition and providing impacted employees with support and resources.

Looking Ahead

These changes are difficult, but I’m confident that by working together we will become stronger than ever. In the months ahead, you will see a more focused, agile, and responsive eBay — one that is better positioned to advance our purpose of creating economic opportunity for all.

Thank you,
Jamie

Ok, so I may have managed to many people over the years. What the hell is “Roles” is that a person? Employees are people, for us employees are family, related or not.

Translation, we don’t have the nerve, to fire you face to face, so everyone, (everyone?) stay home, if the phone don’t ring you are a winner.

I have hired thousands of people, real people, in my lifetime. Sadly I have also let many of them go when it is the right thing to do. However, you must look them in the eye and do it. It is not easy, though most know when they step over the threshold in that corner office, what is going to happen.

What hath God technology wrought?

4 Likes

I assume a role is a position or function.

Got to understand that a sensitive chief executive does not fire individuals based on their performance, he restructures and reorganizes and individual employees are necessary collateral damage.

UNH announced a similar restructuring, student enrollment is down over the past 5 years but employee headcount is up. They are cutting employee headcount, but with great sensitivity to the people who are losing their jobs.

Electronic means of cutting headcount are commonplace, the UNH explained in a Zoom meeting,. This Ebay announcement was emailed before it was posted.

I never had one of my groups in the corporate world affected by layoffs. I can count on one hand the number of people I had to fire. But I also had advanced notice on when cuts were coming and helped those who were likely to be cut find a new job.

Once again, Ebay is late to react to what most of big tech was doing.

They are a cash cow, with no growing business to support. They can run as they are for an indeterminate time if the operate efficiently.

They should not be able to support the earnings multiple placed by the stock market, but there is no reason associated with today’s stock market/