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00:02eBay said Thursday it will cut about 800 roles, or 6% of its workforce, across the company,
00:08according to CNBC. The company had 12,300 employees worldwide as of December 31st.
00:15eBay said the cuts reflect operating model needs, duplication, and alignment with future
00:20priorities. The company has reduced headcount in recent years while increasing spending on
00:25artificial intelligence and partnering with OpenAI on an agentic web browser.
00:30The investments come as eBay seeks to compete with larger rivals Amazon and Walmart and
00:34other online marketplaces, including Etsy, TikTok Shop, Temu, and Shine.
00:39Last week, eBay agreed to acquire Depop from Etsy for about $1.2 billion in cash.
00:45eBay said focus categories grew gross merchandise volume more than 16% year-over-year.
00:51For all things money, visit Benzinga.com.
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