1,000 jobs will be lost by eBay: read the CEO’s letter to staff

There are no indications that the wave of layoffs will end soon. Thus far in the year, a tech business has said that it is cutting employment almost every other day. Many companies, including Xerox, Google, and Amazon, have announced that they are terminating hundreds of workers. eBay is the most recent e-commerce site to be included to this list.

In a message posted on the corporate website, eBay CEO Jamie Iannone disclosed that almost 1,000 positions are being eliminated.
We realize that these measures will affect all eBayers, therefore we are not taking them lightly. It’s not easy to say goodbye to those who have contributed so much to the culture and community of eBay,” Iannone said in the letter.
This is the whole letter from the CEO of eBay:
“Group,
We’re moving in the right direction, creating an eBay that will expand and be robust in the face of adversity. We have significantly altered our experiences in every category over the last three years and quickened eBay’s rate of innovation. We are seeing steady improvements in customer satisfaction and a notable uptick in our growth in comparison to the market in the areas where we are investing.
Although our plan is sound, there is still more we can do to make sure we succeed. Our teams need to be more rapidly organized so that we can be more agile, group similar tasks together, and make choices more swiftly. I’m here to share some news about some adjustments we’re doing to better position eBay for steady, long-term development.
Among these choices, the most important and difficult one is to cut our present staff by around 1,000 positions, or about 9% of full-time workers. In the next months, we also want to reduce the number of contracts we have with our alternative labor. We realize that these measures will affect all eBayers, therefore we are not taking them lightly. It is difficult to say goodbye to those who have contributed so much to the culture and community of eBay.
We are aware that we can improve with the variables within our control even in the face of external challenges like the difficult macroeconomic climate. Although we are making headway toward our goal, our total workforce and costs have increased more quickly than our company’s expansion. In order to better fulfill the demands of our global clientele and enhance the end-to-end experience, we are reorganizing our structure by aligning and combining certain teams.
We will shortly start informing the workers whose positions have been terminated and, if necessary, starting the consultation process. When the notifications in their group are finished, your VP or an eLT member will send an email. Leaders will deliver the news immediately using Zoom.
In order to give these discussions some room and privacy on January 24, we kindly ask that all American workers work from home on that day. Throughout this change, we’re dedicated to treating everyone with dignity and compassion and offering services and assistance to affected staff.
Though these are challenging changes, I have no doubt that if we band together, we can overcome them and become stronger than before. You’ll see an eBay that is more responsive, focused, and nimble in the coming months – one that is more suited to further our goal of fostering economic opportunity for all.
I’m grateful.