eBay Cuts 800 Jobs in Strategic Reshuffle After $1.2B Depop Deal
eBay is cutting approximately 800 jobs, or 6% of its workforce, to realign staffing with strategic priorities while hiring in key growth areas. The move follows its $1.2B Depop acquisition targeting Gen Z shoppers and a 15% rise in Q4 revenue to $3B.
1. Workforce Reduction Details
eBay plans to cut approximately 800 positions, representing about 6% of its global full-time workforce. This marks the third round of reductions in three years, following cuts of 500 roles in early 2023 and 1,000 positions in early 2024.
2. Strategic Realignment and Hiring
The company says the layoffs will align staffing with its strategic priorities and free up resources for reinvestment across its operations. It will continue recruiting in areas deemed critical to its future growth, balancing cost discipline with targeted hiring.
3. Financial Performance and Depop Acquisition
In its most recent quarter, eBay reported a 15% year-over-year revenue increase to $3 billion. The cuts coincide with its $1.2 billion acquisition of secondhand fashion platform Depop, aimed at expanding its appeal to younger shoppers.