eBay to lay off 9% of workforce in push to simplify operations, internal memo shows

eBay announced it will be laying off around 9% of its workforce as it seeks to streamline operations and concentrate resources in its expanding areas, according to an internal memo obtained by Reuters. CEO Jamie Iannone informed staff about the decision on Oct 21, and a company spokesperson confirmed the layoffs to Reuters. In February, eBay had already cut about 6% of its workforce, which amounted to 800 employees, as part of its ongoing operational simplification efforts.

The company has differentiated itself from competitors by venturing into authenticated luxury goods, collectibles, and refurbished products, attracting enthusiasts willing to pay premium prices for high-value items. This strategy has paid off, as eBay's shares have risen nearly 40% in 2026, outperforming the S&P 500's around 12% gain.

In a memo, Iannone stated that "our strategy is working," emphasizing the need to make "thoughtful choices about where we focus and invest" to capitalize on the significant opportunities ahead. The company has also benefited from its US$1.4 billion acquisition of fashion resale platform Depop, which has expanded eBay's reach among younger consumers and strengthened its position in the re-commerce market.

This move helped eBay forecast third-quarter revenue to exceed Wall Street estimates when the company reported its results in August. Despite receiving an unsolicited US$56 billion bid from GameStop CEO Ryan Cohen in May, eBay rejected the offer, deeming it both "neither credible nor attractive." eBay is expected to announce its latest earnings next week.