eBay (NASDAQ:EBAY) announced a significant workforce reduction today. The online retail giant plans to eliminate approximately 1,000 positions, which accounts for about 9% of its full-time workforce.

eBay’s CEO, Jamie Iannone, attributed this decision to the current challenging macroeconomic climate. In his statement, Iannone also mentioned plans to reduce the company’s engagement with its “alternate workforce” in the upcoming months.

This development at eBay is part of a broader trend of job cuts in the technology sector at the start of 2024, continuing the industry’s struggles from 2023. Other prominent tech firms, including Google, Duolingo, and Amazon, have also initiated layoffs as they adjust their strategic priorities, increasingly focusing on areas like artificial intelligence.

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