eBay has announced it will cut 500 jobs around the world, which is around four percent of its workforce.
CEO Jamie Iannone said: “To create long-term, sustainable growth for eBay, we need to evolve our organization as we take the next step in our strategy.”
The news comes just hours after Zoom revealed 1,300 job cuts.
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With the cuts, the e-commerce firm plans to invest and create new jobs in high-potential areas, which includes new technologies, customer innovations and key markets.
Mr. Iannone said those impacted would be notified over the next 24 hours.
No details on the severance packages and benefits laid-off employees might get were revealed.
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Iannone did not take responsibility for the layoffs like other CEOs, including those at Microsoft and Google, have done in recent months.
He also didn’t say whether the job cuts would be followed by reduced executive pay packages.
Zoom CEO Eric Yuan said as part of the cost-cutting measures he would take a 98 percent pay cut.
Source: San Francisco Chronicle
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