EBay to lay off 9% of workforce in push to simplify operations, internal memo shows

EBay will lay off about 9% of its workforce as the online marketplace ​looks to simplify operations and shift resources to its fastest-growing ‌areas, CEO Jamie Iannone told staff in a memo that was reviewed by Reuters.

A spokesperson for eBay confirmed the layoffs to Reuters on Wednesday.

The move will eliminate around ​1,100 jobs, based on the 12,300 employees eBay had at ​the end of last year. The company also let go ⁠about 6% of its workforce, or 800 employees, in February as part of ​efforts to streamline operations.

EBay has set itself apart from rivals by pushing ​into authenticated luxury goods, collectibles and refurbished products, which draw enthusiasts willing to pay more for valuable items. That has helped its shares rise nearly 40% this year, ​outperforming the benchmark S&P 500's around 12% gain.

"Our strategy is working," ​Iannone said in the memo, adding that "continuing to capture the significant opportunity ahead requires ‌us to ⁠make thoughtful choices about where we focus and invest."