eBay is reducing its workforce by 1,000 roles, approximately 9% of its full-time staff, as announced by CEO Jamie Iannone online on Tuesday. This information was reported by Brian Fung, Jennifer Korn, Clare Duffy, and Catherine Thorbecke in a CNN article.

In the coming months, the company plans to scale back contracts with its “alternate workforce.” Iannone attributes this decision to the “challenging macroeconomic environment,” though he acknowledges factors within the company’s control.

In response to the growth of expenses surpassing business growth, Iannone stated, “We’re implementing organizational changes to align and consolidate certain teams, improve the end-to-end experience, and better meet the needs of our customers worldwide.”

Iannone urged US employees to work from home on January 24th, creating space for discussions about potential layoffs. Notifications for layoffs would be communicated via Zoom by leaders.

Iannone emphasized eBay’s commitment to treating employees with respect and empathy during this transition, providing support and resources to those affected.

This move by eBay is part of a broader trend in the tech industry, marked by layoffs. In the first month of 2024, following a challenging 2023 for the sector, Google CEO Sundar Pichai warned of additional layoffs as the company focuses on artificial intelligence and beyond. Duolingo, transitioning to greater reliance on artificial intelligence, laid off approximately 10% of its contract workers, and Amazon cut hundreds of jobs, including at streaming platform Twitch. Data from layoffs.tyi indicates that nearly 11,000 tech employees have been laid off at 63 companies in 2024.