{"id":28596,"date":"2023-02-08T02:54:47","date_gmt":"2023-02-08T07:54:47","guid":{"rendered":"https:\/\/www.workingteddy.com\/?p=28596"},"modified":"2023-02-08T02:54:47","modified_gmt":"2023-02-08T07:54:47","slug":"ebay-will-cut-4-of-its-workforce","status":"publish","type":"post","link":"https:\/\/blog.beanybux.com\/ebay-will-cut-4-of-its-workforce\/","title":{"rendered":"EBay Will Cut 4% of Its Workforce"},"content":{"rendered":"<p><span style=\"color: #800000;\"><strong>EBay Inc<\/strong><\/span>. is cutting about 500 employees \u2014 or 4% of its workforce \u2014 as the e-commerce company continues to face slower consumer spending after a brief pandemic boom.<\/p>\n<p>The reductions are in response to the \u201cmacroeconomic situation around the world,\u201d Chief Executive Officer Jamie Iannone said Tuesday in a statement, and are necessary to help \u201ccreate long-term sustainable growth.\u201d<\/p>\n<p>EBay is the latest company to eliminate positions in response to economic conditions. Sales have declined in the past six quarters as people shifted back to spending on experiences such as traveling and dining out that they postponed during the pandemic. Analysts, on average, expect the San Jose, California-based company will report that revenue fell about 6% to $2.46 billion when it announces holiday-quarter results on Feb. 22.<\/p>\n<p>The \u201cworkforce reduction may be a move to streamline operations and make room for new investment focused on elevating the platform\u2019s capabilities and visibility,\u201d Poonam Goyal and Abigail Gilmartin, Bloomberg Intelligence analysts, said in a note.<\/p>\n<p>Amazon.com Inc., EBay\u2019s far larger rival, has said it\u2019s cutting 18,000 jobs and reported last week that online sales dropped 2% in the holiday quarter. Wayfair Inc., an online home-goods retailer, said last month it would eliminate 1,750 jobs, or 10% of its workforce.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EBay Inc. is cutting about 500 employees \u2014 or 4% of its workforce \u2014 as the e-commerce company continues to face slower consumer spending after a brief pandemic boom. The reductions are in response to the \u201cmacroeconomic situation around the world,\u201d Chief Executive Officer Jamie Iannone said Tuesday in a statement, and are necessary to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3684,3696,3712,3699,3700,3694,3695,3692],"tags":[],"class_list":["post-28596","post","type-post","status-publish","format-standard","hentry","category-blog","category-business","category-employment","category-finance","category-financial","category-it","category-jobs","category-news"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/blog.beanybux.com\/wp-json\/wp\/v2\/posts\/28596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.beanybux.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.beanybux.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.beanybux.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.beanybux.com\/wp-json\/wp\/v2\/comments?post=28596"}],"version-history":[{"count":0,"href":"https:\/\/blog.beanybux.com\/wp-json\/wp\/v2\/posts\/28596\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.beanybux.com\/wp-json\/wp\/v2\/media?parent=28596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.beanybux.com\/wp-json\/wp\/v2\/categories?post=28596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.beanybux.com\/wp-json\/wp\/v2\/tags?post=28596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}