EBay to Cut 1,000 Jobs, Reduce Contractors to Sharpen Focus
- Company announces second workforce reductions in the past year
- E-commerce site has been losing market share to bigger rivals
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EBay Inc. will cut about 1,000 jobs, or 9% of its full-time employees, and reduce work for outside contractors, saying staffing and expenses have outpaced growth.
The e-commerce company said it needs to be “more nimble” in the face of a “challenging” economic environment. The shares gained about 2% as the markets opened in New York on Wednesday.