Ebay Inc, the e-commerce giant, has announced plans to lay off 500 employees, equivalent to 4% of its total workforce. The move is aimed at creating more room for investment in high-growth areas such as new technologies, customer innovations, and key markets.
Following the announcement, shares of the San Jose-based company increased by approximately 1% in after-hours trading. Ebay CEO, Jamie Iannone, reassured employees in a message that the company’s focus on new areas of growth would lead to the creation of new roles.
