eBay will lay off 500 employees

eBay will lay off 500 employees

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E-commerce firm eBay Inc said on Tuesday it would lay off 500 employees globally, which is 4% of its total workforce.

Shares of the San Jose, California-based company rose about 1% in aftermarket trade.

“This change gives us additional space to invest and create new roles in high-potential areas – new technologies, customer innovations and key markets,” eBay Chief Executive Officer Jamie Iannone said in a message to employees.

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