EBay To Cut 1,000 Jobs

(RTTNews) - eBay Inc. (EBAY) has decided to reduce its current workforce by about 1,000 roles or 9% of full-time employees. Additionally, it plans to scale back the number of contracts it has within its alternate workforce over the coming months.

eBay said in a letter sent to employees on Tuesday that those who are being laid off will be notified shortly. The company asked its U.S.-based employees to work from home on Wednesday to provide some space and privacy for conversations.

The company said overall headcount and expenses have outpaced the growth of its business. To address this, the company is implementing organizational changes that align and consolidate certain teams to improve the end-to-end experience, and better meet the needs of its customers around the world.