eBay Cuts Around 1,000 Jobs After Telling Staff Its Strategy Is Working

eBay is cutting around 1,000 jobs, or about 9% of its workforce, as chief executive Jamie Iannone says the company must focus its resources on its main growth priorities. The decision comes as Iannone tells employees that 'our strategy is working', with the online marketplace expanding its business in luxury goods, collectables and resale.

The company confirmed the reductions on Wednesday, 21 October, following an internal memo from Iannone reviewed by Reuters. Employees affected by the cuts are due to be informed in the coming days. The announcement follows a separate reduction of about 800 jobs in February.

Iannone Says Strategy Is Working

In the memo, Iannone said 'continuing to capture the significant opportunity ahead requires us to make thoughtful choices about where we focus and invest'. He linked the workforce reduction to plans to simplify operations and align teams and resources with eBay's strategic priorities.

An eBay spokesperson said the cuts would help the company 'operate from a position of strength by aligning our teams and resources with our top strategic priorities'. The company said it would continue hiring in 'priority areas aligned with our strategy'.

The announcement did not identify the teams facing cuts or specify which functions would receive additional resources. eBay has been directing investment towards selected merchandise categories, including authenticated luxury items, collectables and refurbished products.

Second Major Round of Job Cuts This Year

The latest reductions follow the elimination of about 800 positions in February, representing roughly 6% of the workforce at the time. eBay had approximately 12,300 employees at the end of 2025.

The company said in February that it was aligning its organisational structure with its priorities and reinvesting across the business. The October announcement marks a second major round of job cuts in the same year.

The company's statement did not specify which departments or locations would be affected, or set out severance arrangements. Its commitment to continue recruiting in selected areas means the reductions are taking place alongside plans to invest elsewhere in the business.

eBay Expands Its Focus on Resale

eBay has developed its offering around authenticated luxury goods, collectables and refurbished products. Authentication services help buyers assess whether eligible items are genuine, while refurbished products offer an option for customers seeking restored goods.

Collectables and specialist merchandise remain part of the company's focus on categories with dedicated buyers. Second-hand fashion has also become a larger part of its business following the acquisition of Depop.

eBay completed the purchase of the second-hand fashion platform on 30 July, paying $1.4 billion (£1.05 billion), including preliminary purchase-price adjustments. Depop's popularity with younger consumers gives eBay an additional presence in recommerce, the buying and selling of previously owned goods.

Reuters reported that eBay shares had risen nearly 40% this year, compared with about 12% for the S&P 500, an index tracking large US-listed companies. CNBC said the shares were up approximately 1% on Wednesday morning.

Earnings Report Due on 28 October

In August, eBay forecast third-quarter revenue above Wall Street estimates. Its next financial results are scheduled for 28 October, one week after the workforce reduction was announced.

The results will provide an updated view of the company's financial performance as it pursues its investment priorities and integrates Depop. The company has said it will continue hiring in selected areas, but has not published a breakdown of the roles being removed or the positions it plans to add.