By Connor Hart
EBay will lay off about 6.5% of its global workforce, or roughly 800 employees, as part of an effort to cut costs and restructure the business.
"We are taking steps to reinvest across our business and align our structure with our strategic priorities, which will affect certain roles across our workforce," a company spokesperson said Thursday.
The online auction site didn't say when the layoffs are expected to occur, or whether the company expects to record any charges as a result of the restructuring.
EBay employed about 12,300 people as of the end of last year, of which nearly 60% were located in the U.S., according to the company's most recent annual filing with the Securities and Exchange Commission.
The job cuts--which were reported earlier by Bloomberg--came after eBay last week agreed to buy the secondhand fashion platform Depop from Etsy for approximately $1.2 billion. EBay Chief Executive Jamie Iannone said at the time that the addition of Depop to its portfolio would boost its footprint, while also expanding its presence in the fashion market.
The company has been working to improve the quality of goods on its platform over the past several years, including trying to build out its clothing business to keep up with its collectables business.
EBay earlier this month reported that fourth-quarter sales rose 15% to $2.97 billion, ahead of Wall Street models. Gross merchandise volume increased 10% to $21.2 billion.
Its profit declined to $528 million from $679 million a year earlier, though adjusted earnings of $1.41 a share topped the $1.35 a share that analysts expected, according to FactSet.
Looking forward, eBay expects adjusted earnings of $1.53 to $1.59 a share on revenue of $3 billion to $3.05 billion in the current quarter. Analysts are looking for adjusted earnings of $1.57 a share and revenue of $2.99 billion.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
February 26, 2026 09:33 ET (14:33 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.