EBay to cut about 9% of global workforce

eBay

Yesterday 14:34

Oct 22 (Reuters) - EBay EBAY.O said on Thursday it will cut about 9% of its global workforce as part of a restructuring plan to move resources to its top strategic priorities, confirming an exclusive Reuters report from earlier this week.    
The online marketplace operator also said it expects to report third-quarter results above the forecast it issued with its August earnings report.
Here are some more details:
The company expects to incur pretax restructuring charges of $130 million to $150 million, mostly tied to severance and post-employment benefits
Most of the charges will be recorded in the fourth quarter of 2026 and are expected to result in future cash expenditures, eBay said in a regulatory filing
CEO Jamie Iannone had told employees in an internal memo reviewed by Reuters that the company was simplifying operations and redirecting resources toward its fastest-growing areas
The workforce reduction is expected to affect roughly 1,000 employees, a spokesperson for eBay had confirmed to Reuters. The company had 12,300 employees at the end of last year
In February, EBay laid off about 6% of its workforce, or 800 employees, as part of efforts to streamline operations, following its $1.2 billion acquisition of Depop

 (Reporting by Anhata Rooprai in Bengaluru; Editing by Devika Syamnath)
 ((Anhata.Rooprai@thomsonreuters.com))