Ebay plans to lay off 500 employees, about 4% of its workforce

Ebay announced plans to cut 500 jobs, or about 4 percent of its workforce, according to a filing with the SEC on Tuesday.

Shares of eBay rose slightly in extended trading on Tuesday.

In a memo to employees, CEO Jamie Iannone said the company decided on the cuts after reviewing the global macroeconomic environment over the past several months. The cuts will strengthen eBay’s ability to provide better experiences to its customers, he said, and will help eBay focus on the areas where it can have the most impact.

“Importantly, this shift gives us additional space to invest in high-potential areas and create new roles – new technologies, customer innovations and key markets – and the changing macro, e-commerce and technology landscape.” To continue to adapt and be flexible with the landscape,” Iannone wrote. in release.

He said that the affected employees will be informed in the next 24 hours.

The company’s layoff announcement marks the latest round of job cuts in the tech industry, as Zoom It also announced plans to cut about 1,300 jobs on Tuesday. In January, Google revealed plans to lay off more than 12,000 workers, Microsoft revealed plans to cut 10,000 jobs and Salesforce announced plans to lay off 7,000 workers. .