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E-commerce giant eBay plans to lay off 1,000 employees, about 9% of its workforce. It will also reduce the use of contractors.
“While our strategy is the right one, there is more we can do to ensure success,” said Jamie Iannone, president and CEO of the company. In a memo to employees, he wrote: reprinted by The Verge. “We need to organize our teams better to increase speed. This allows us to be more agile, group similar work together, and make decisions faster.”
Like other technology companies over the past year, eBay has blamed the layoffs on excessive hiring and the economic downturn. ““Despite facing external pressures, including a difficult macroeconomic environment, we know that we can do better with the factors we can control,” Iannone’s memo added. “While we are moving forward in line with our strategy, overall headcount and expenses are outpacing business growth.”
It’s been a wild month for layoffs in the technology sector. A few weeks ago, Unity software maintain game development platform The company, used by game builders around the world, announced plans to lay off 25% of its staff. Meanwhile, Google and Amazon announced they will cut hundreds of employees, with Google CEO Sundar Pichai saying the company will meet its “ambitious goals” and “key priorities.” The company said it will further reduce its workforce through 2024.
Despite these high-profile layoffs, it’s important to keep in mind that tech unemployment rates are rising. In December it reached 2.3%, lower than the national unemployment rate of 3.7%. The tech industry also saw a net gain of 12,922 jobs, the largest increase in eight months. In other words, businesses across the economy continue to hire technology experts for tasks ranging from building websites to figuring out how best to implement artificial intelligence (AI). If you’re currently worried about your employment prospects, keep in mind that it’s never a bad idea to keep your training up to date.
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