EBay to cut about 9% of global workforce

Oct 22 (Reuters) - EBay ‌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)

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