Ebay is cutting 9% of workforce.

[solefoodbk]

"The most significant and toughest of these decisions is to reduce our current workforce by approximately 1,000 roles or an estimated 9% of full-time employees. Additionally, we plan to scale back the number of contracts we have within our alternate workforce over the coming months. These are not actions we take lightly — and we recognize the impact they will have on all eBayers. We have to say goodbye to people who have made so many important contributions to the eBay community and culture, and this isn’t easy."

[vesania]

With their system going AI more and more, I don't think eBay is going towards a good direction.

[SaiJin]

They aren't the only company who laid off people.
It's a cycle.

[agent006140]

IBM just announced good earnings,they will be laying off 3500-4000 people
Wayfair 1650,SAP 8000,Xerox,Pfizer,and many more are all laying off some workers.
There will be less people shopping and dining and travelling

some were hired during Cov19 and now they dont need them anymore,besides sales have declined for most categories.
Macy for one,Wayfair another,also WMT,TGT,AMZN,

Add Levi Strauss,Msft gaming

Ebay can grow if it cleans up its site

UPS will layoff 12,000 workers,Paypal 700,IBM 4000,list just getting longer and longer.consumers are drinking less SBUX coffee,munching on less Oreo cookies.
Pizza hut laid off 1200 drivers?

You can read the press release,it is all the same,they are going to focus on bla bla bla.
But laying off workers is the first thing they do to cut cost.
Alphabet is worse,for some reasons they are restricting workers using staplers??
Some company will make you pay for your coffee,no longer free.
They could have all hired too many workers during Cov 19 and now they dont need that many workers,eg Watfair,Amzn,UPS,Zoom.
UPS is 12,000 workers,Wayfair is 1650.IBM 3500-4000 worldwide,MSFT 1900,Paypal 2500,they have laidoff like 700 last year,Alphabet 12000/
The ones who go first are contractors,corporate ovehead,work from home,IT developers in games.
Citicorp like 20,000 worldwide.
SAP 8000 worldwide.

UPS is laying off 12,000,they said it is mostly management and contractors.
But I think retail sales have slowed down and there are just less delivery to be made,they would cut into those drivers and delivery personnel soon.
In California,come April,fast food workers will get $20.hour,Pizza Hut has already layoff over 1000 drivers.

I just found out what Ebay said-it said business is such they have to cut cost

[Automasters]

Yes, it is downhill from here - we saw the writing on the wall over the past few years. Why pay employees when the demand has literally died, just like the people and their incomes.

[rsot]

The list will go on - nothing new indeed.

[rsot]

Msft gets more employees by acquisition of other companies as well

[solefoodbk]

Originally Posted by SaiJin

They aren't the only company who laid off people.
It's a cycle.

Yeah but overall eBay has no growth. So they are cutting workforce while also not realizing movement upwards. Take a company like Meta on the other hand who did lay off people but grew the business. Ebay probably is going to think it is wise to put more resources to AI customer service, which will continue the false illusion they're doing well. The marketplace itself is not growing, but they have figured out how to squeeze every penny from us sellers, and reduce costs.

For example, they put all this money into authentication program. In about 10 years we will probably have tech that can just authenticate whatever you want via an app and it's universally adopted.

[rsot]

Originally Posted by agent006140

Ebay can grow if it cleans up its site

it is what it is - i don't see much big moves coming

[solefoodbk]

Originally Posted by agent006140

Ebay can grow if it cleans up its site

Until you realize majority of the growth on eBay was because of a site that was not cleaned up.

[solefoodbk]

Apparently 25 out 28 workers laid off involve authentication.

[SaiJin]

it's the economic reset too.

Problem is when they are replaced by AI, which is already creating havoc in Amazon.

[rsot]

Originally Posted by SaiJin

it's the economic reset too.

Problem is when they are replaced by AI, which is already creating havoc in Amazon.

rampant Ai without human rechecking...if this is the case, it's a major problem

[Blasko]

Originally Posted by solefoodbk

Until you realize majority of the growth on eBay was because of a site that was not cleaned up.

True story haha

[Delta1]

This is why I've never wanted to work for a huge company. I wonder if it's due to AI or they just realised they got too many unnecessary staff.

[Delta1]

Originally Posted by agent006140

You can read the press release,it is all the
Alphabet is worse,for some reasons they are restricting workers using staplers??

Is that another way of saying a company is removing perks? (sorry, might be a US term I've not heard of).

You can read the press release,it is all the same,they are going to focus on bla bla bla.

Of course but they always make up something to say to make themselves not sound like the bad guys or incompetent. It's always about cost savings but they won't want to admit they over hired. If they say some processes have been optimised by AI and they're restructuring then it sounds better. Or maybe it's true.

[Automasters]

Like many others - I hear gaypal is also laying off workers

[Delta1]

Originally Posted by agent006140

I just found out what Ebay said-it said business is such they have to cut cost

EBay Inc. will cut about 1,000 jobs, or 9% of its full-time employees, and reduce work for outside contractors, saying staffing and expenses have outpaced growth. The e-commerce company said it needs to be “more nimble” in the face of a “challenging” economic environment

From Bloomberg.

Probably unrelated but the UK tax deadlines that just passed and new rules that meant eBay were obligated to send transaction details to the taxman 'automatically' from January 2024 meant many people stopped selling or reduced selling to not get flagged. That certainly won't help with eBay's growth.

https://www.thisismoney.co.uk/money/...ctly-HMRC.html

[solefoodbk]

Ebay just introduced increase in dividend and $2B share price buyback.

[franser]

USA is in transition back to manufacturing as much as possible along with Mexico and others because the rest of the developed world is shrinking in population big time in the next ten years and beyond for more shrinkage. We are the only country that had kids to replace the boomers but more are needed.
We will do this because it is vital to our survival as an nation. Once again we win, everyone else looses.

[fernendo]

Originally Posted by solefoodbk

Until you realize majority of the growth on eBay was because of a site that was not cleaned up.

Which site?

[fernendo]

Originally Posted by SaiJin

it's the economic reset too.

Problem is when they are replaced by AI, which is already creating havoc in Amazon.

What's it doing to Amazon?