eBay to Cut 1,000 Jobs, 9% of Workforce

eBay is laying off around 1,000 full-time employees, or 9 percent of its workforce, and plans to reduce the number of contractors in the coming months, despite reporting a profit of $1.3 billion last quarter. The company's CEO, Jamie Iannone, attributes the layoffs to the need for organizational changes to better position eBay for long-term, sustainable growth, emphasizing the importance of being more nimble and making decisions more quickly. The company asks all US employees to work from home on January 24th while the notifications are being made, and assures that impacted employees will be provided with support and resources during the transition.