eBay began laying off around 1,000 employees, about 9% of its workforce, citing a challenging macroeconomic environment and the need to "better organize our teams for speed," CEO Jamie Iannone said in an email to employees this week.  The company also plans to cut the number of contractors by an unspecified amount.

"[O]ur overall headcount and expenses have outpaced the growth of our business," Iannone said in explaining the move.

There's no word on whether the layoffs will affect eBay subsidiary TCGplayer, where a union formed in 2023 is attempting to bargain for its first contract ("TCGplayer Union Holds HQ Picket").

For the first nine months of 2023, eBay reported $2.05 billion in net income from continuing operations on $7.55 billion in sales, both increases from the year ago period.