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00:02eBay plans to cut about 9% of its workforce as the online marketplace simplifies operations
00:08and shifts resources to its fastest growing businesses, according to Reuters.
00:12CEO Jamie Iannone announced the layoffs in a staff memo,
00:16and affected employees will be notified in the coming days.
00:19The move follows an earlier round of layoffs in February that eliminated 800 jobs.
00:25eBay has focused on luxury goods, collectibles, and refurbished products,
00:29helping its shares rise nearly 40% this year.
00:32The company also expanded its fashion resale business through a $1.4 billion acquisition of Depop.
00:38eBay previously forecast third-quarter revenue above Wall Street expectations
00:42and is scheduled to report its latest earnings next week.
00:45For all things money, visit Benzinga.com.
