eBay announced that it is planning to close down 1,000 positions, or 9% of its workforce, in the coming days.
The e-commerce platform joins the growing number of tech companies downsizing at the start of 2024.
In a blog post on Monday, CEO Jamie Iannone full-time employees in the company's "alternate workforce" will be impacted as the overall headcount and expenses "outpaced" eBay's growth.
Iannone said the "organizational changes" will help the company improve its end-to-end experience and "better meet" its customers' needs.
The statement came after the company reported "another quarter of solid results" last year with a profit of $1.3 billion.
US-based employees are notified to stay at home for "some space and privacy" as team leaders reach out to impacted employees via Zoom.
No mention of severance packages or compensations for affected staff members were made.
Also Read: Amazon Layoffs: Prime Video, MGM Studio Cuts Off Hundreds of Employees
eBay Faces More Controversies from Executive Decisions
The recent layoffs are another blotch in eBay's record following its recent settlement case for sending live spiders, cockroaches, and a bloody pig mask to a pair of critics.
The Justice Department fined the company $3 million for all damages and prosecuting involved employees.
Coincidentally, Iannone's predecessor Devin Ewing, who headed the company during the harassment, received a $57 million severance package from eBay.
According to court records, Ewing was involved in the attacks and even called for the critics, a Massachusetts couple, to "get BURNED DOWN."
Layoffs Surge Throughout January 2024
So far, each week has seen layoffs from multiple tech companies for varying reasons. The most common was that they hired too quickly.
It is worth noting, however, that job growth in the past year has slowed down in comparison to 2022 and 2021 as the world returns to "normal" after the COVID-19 pandemic.
Amazon and Google have already said that more job cuts are coming in the following weeks or months as the company intends to reassess its focus.
Related Article: Google Layoffs: CEO Warns Staff More Job Cuts Coming Soon
