EBay to fire 4 per cent of its workforce, 500 employees are expected leave the company

We have been continuously seeing tough jobs for workers from the technology sector due to the current job market situation. According to the latest development, eBay, the E-commerce company, has announced collective layoffs that are going to impact almost 4 per cent of its employees.

This indicates that approximately 500 people are going to be losing their jobs all over the world. The tech giant still did not provide enough information about the severance package of the affected workers as well as how the company is going to carry out the process of layoffs.

EBay to fire people

A recent report by Reuters, the tech giant is going to be laying off 500 workers all over the world. Apart from that, the report further states that shares of the San Jose, California-based firm increased about 1% in aftermarket trade.

EBay’s CEO, Jamie Iannone, reported to workers announcing the layoffs,

“This shift provides us additional space to invest and create new roles in high-potential areas – new technologies, customer innovations and key markets.”

EBay is an e-commerce purchasing and selling platform established in 1995 and its headquarters is in California, USA. The tech giant sells different types of products that include consumer electronics, fashion goods, home products, gift items and many more.

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Layoffs at Zoom

Besides eBay, video calling platform Zoom has further reported mass layoffs. Almost 1,300 people are going to be dismissed from the tech giant all over the world. Moreover, Eric Yuan, the CEO of Zoom is further taking a salary reduction of 98 per cent for the impending year and finish of his yearly bonus. The layoffs are going to affect nearly 15 per cent of Zoom’s employees.

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According to a blog post by the CEO,

“Over the past couple of years, Zoom has turned out as an indispensable source of connection for businesses and individuals along with a worldwide recognized company. Whether you have been at Zoom since the start or joined us more recently, you’ve played an essential role in our evolution, and that makes today’s announcement particularly hard. We have made the difficult but important decision to cut back our team by over 15% and say goodbye to almost 1,300 hardworking, talented colleagues.”

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