eBay will lay off 1,000 employees, or 9% of the company

a team,

We're on a path to building a stronger eBay for the future – one that grows and is resilient in the face of any challenge. Over the past three years, we've fundamentally changed our experiences across categories and accelerated the pace of innovation at eBay. In the areas in which we invest, we are seeing consistent increases in customer satisfaction and a measurable improvement in our growth compared to the market.

Our strategy is the right one, but there is more we can do to ensure our success. We need to organize our teams better for speed – allowing us to be smarter, bringing together similar work, and helping us make decisions more quickly. Today, I'm sharing news about the changes we're implementing to improve eBay for long-term sustainable growth.

The most important and difficult of these decisions is to reduce our current workforce by approximately 1,000 positions or an estimated 9% of full-time employees. In addition, we plan to reduce the number of contracts between our replacement workforce over the coming months. These are not actions we take lightly — and we recognize the impact they will have on all eBayers. We have to say goodbye to people who have made so many important contributions to the eBay community and culture, and that's not easy.

The need for change

Despite facing external pressures, such as a difficult macroeconomic environment, we know that we can do better with the factors we control. As we make progress in executing our strategy, total headcount and expenses have outpaced our business growth. To address this issue, we are implementing organizational changes that align and integrate specific teams to improve the overall experience and better meet the needs of our customers around the world.

Next steps

We will soon begin notifying employees whose roles have been abolished and entering into a consultation process in areas where this is required. Leaders will deliver the news live via Zoom, and the VP or eLT member will email once notifications are complete in their group.

We are asking all US employees to work from home on January 24 to provide some space and privacy for these conversations. We are committed to treating everyone with respect and compassion during this transition and providing affected employees with support and resources.

I look forward

These changes are difficult, but I am confident that by working together we will be stronger than ever. In the coming months, we will see eBay more focused, agile and responsive – better positioned to advance our goal of creating economic opportunity for all.

Thank you,

Jimmy