eBay laying off dozens of employees in Israel as part of global cutbacks
eBay laying off dozens of employees in Israel as part of global cutbacks
The e-commerce giant announced on Tuesday that it will lay off 500 employees globally, representing 4% of its total workforce
E-commerce giant eBay said on Tuesday it will lay off 500 employees globally, representing 4% of its total workforce. The cutbacks will include dozens of employees at eBay’s R&D center in Israel, which was set up in 2005 following the acquisition of shopping.com and which employs hundreds of people.
“Importantly, this shift gives us additional space to invest and create new roles in high-potential areas — new technologies, customer innovations, and key markets — and to continue to adapt and flex with the changing macro, e-commerce, and technology landscape,” said Jamie Iannone, Chief Executive Officer of eBay in a message to employees.
A raft of U.S. companies from Goldman Sachs to Alphabet have laid off thousands this year to ride out a demand downturn wrought by high inflation and rising interest rates. Zoom announced plans to cut around 1,300 jobs Tuesday, while in January Google laid off more than 12,000 workers, Microsoft announced its intention to cut 10,000 employees, and Salesforce laid off 7,000 workers.
