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eBay to Lay Off 9% Workforce, About 1,000 Jobs

By Drooid · Oct 21, 2026, 6:26 PM UTC · How we work

Summary

eBay Announces Layoffs

eBay Inc. will lay off about 9% of its workforce, roughly 1,000 jobs.
The cuts follow a February reduction of about 800 employees, representing 6% of staff.
CEO Jamie Iannone said in an internal memo, “Our strategy is working.”
eBay will keep hiring in priority areas such as authenticated luxury goods, collectibles and refurbished products.
eBay shares rose about 1% on Wednesday after the layoff announcement.

Summary

Cohen Offers $56B

GameStop CEO Ryan Cohen offered an unsolicited $56 billion acquisition bid for eBay, which the board rejected.
eBay returned roughly $3 billion to shareholders via dividends and buybacks in 2025 and plans $2 billion more in 2026.
Cohen’s proposal called for cutting $2 billion in annual expenses across sales, marketing, product development and administrative costs.
eBay moved R&D operations from Israel to a new Bengaluru hub, affecting over 200 Israeli staff.

History

Historical Context

After a series of missed deals—including a rejected $44.6 billion Microsoft bid in 2008—and frequent leadership changes, Yahoo’s performance fell sharply. Marissa Mayer’s 2012-2017 tenure saw costly acquisitions and two massive data breaches disclosed in 2016. Consequently, Verizon announced on July 25 2016 that it would buy Yahoo’s core internet business for $4.83 billion, ending the company’s independence.

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eBay Announces Layoffs

eBay Inc. will lay off about 9% of its workforce, roughly 1,000 jobs.
The cuts follow a February reduction of about 800 employees, representing 6% of staff.
CEO Jamie Iannone said in an internal memo, “Our strategy is working.”
eBay will keep hiring in priority areas such as authenticated luxury goods, collectibles and refurbished products.
eBay shares rose about 1% on Wednesday after the layoff announcement.

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