eBay Cuts 9% of Workforce in New Layoff Wave and Closes Israel Center
eBay is cutting 9% of its workforce, laying off approximately 1,100 employees in a new restructuring wave. The company is also closing its development center in Israel.
American e-commerce giant eBay is launching another layoff round, cutting 9% of its workforce—approximately 1,100 employees, according to Reuters. This follows a previous round in February that eliminated 800 jobs, or 6% of the workforce.
Despite the cuts, eBay's stock has surged 37% since the beginning of the year, outperforming competitor Amazon's 13% gain. The restructuring aims to streamline operations and focus on profitable segments.
Meanwhile, eBay is in the process of closing its development center in Israel, where LinkedIn data indicates around 100 employees are still currently employed.
