- EBAY +3.37% ETSY -0.54%
eBay is laying off about 800 employees, or 6% of its full-time workforce, saying the move is a push to align with its “strategic priorities.” It comes a week after the company announced it was acquiring second-hand clothing app Depop from rival Etsy for $1.2 billion.
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Depop is popular with millennials and Gen Z, and is part of eBay’s bid for younger consumers, who are gravitating to second-hand shopping online for sustainability and financial reasons.
eBay Inc. (EBAY) was trading up 3.3% in midday trading at the time of this writing.
This is eBay’s third round of layoffs since 2023. The online second-hand retailer cut 1,000 jobs in 2024 (9% of its workforce), after it cut 500 jobs in 2023 (or 4% of its workforce), per TechCrunch.
“We are taking steps to reinvest across our business and align our structure with our strategic priorities, which will affect certain roles across our workforce,” a spokesperson for eBay tells Fast Company. “We are grateful for the contributions of the employees impacted and are committed to supporting them with care and respect.”
The Silicon Valley-based online retailer has also been heavily investing in artificial intelligence. The eBay spokesperson said the cuts are not AI-related.
eBay financials
This latest round of layoffs comes just two weeks after eBay reported strong fourth-quarter earnings for 2025, with revenue coming in at $2.97 billion, beating estimates of $2.88 billion; and adjusted earnings per share (EPS) of $1.41, beating estimates of $1.35.
“2025 was a milestone year for eBay, and our results reflect the strength of our strategy and the disciplined execution behind it,” eBay CEO Jamie Iannone said in that earnings release. “As we continue to harness AI to elevate thecustomer experience worldwide, eBay is in the strongest position it has been in years.”
eBay has a current market capitalization of $40.2 billion.
This post originally appeared at fastcompany.comSubscribe to get the Fast Company newsletter: http://fastcompany.com/newsletters
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