Last Update: February 08, 2023, 09:23 IST
Ebay has joined the layoff bandwagon. (Image: Reuters)
Ecommerce firm eBay Inc said on Tuesday that it will lay off 500 employees globally, which is 4% of its total workforce.
E-commerce firm eBay Inc (EBAY.O) said on Tuesday it would lay off 500 employees globally, which accounts for 4% of its total workforce.
Shares of the San Jose, California-based company rose about 1% in aftermarket trade.
“This change gives us additional space to invest and create new roles in high-potential areas – new technologies, customer innovations and key markets,” said eBay chief executive Jamie Iannone in a message to employees.
American conglomerate from Goldman Sachs Group Inc. (gsn) alphabet inc (google.o) Thousands of people have been laid off this year to address the shortfall in demand resulting from high inflation and rising interest rates.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)