eBay Axes 1,000 Jobs in 9% Staff Cull Despite Surging Stock and Luxury Resale Push

eBay plans to axe around 1,000 jobs as it seeks to simplify operations and redirect resources towards its fastest-growing business areas, despite a nearly 40% rise in its shares this year.

eBay Cuts Jobs Again in 2026

The latest cuts mark eBay's second major workforce reduction this year. The company eliminated around 800 positions, or 6% of its workforce, in February as part of an earlier restructuring effort.

Based on the reported figures, the two rounds could affect around 1,800 positions this year. However, eBay has yet to disclose which teams, roles or locations will be affected by the latest cuts.

The online marketplace had 12,300 employees at the end of 2025, according to Reuters. The company has described the latest reduction as about 9% of its workforce, while a spokesperson confirmed that around 1,000 jobs would be eliminated. The figures are approximate: 9% of the year-end headcount would amount to roughly 1,100 employees.

Chief Executive Jamie Iannone informed employees of the decision in an internal memo reviewed by Reuters. An eBay spokesperson confirmed the planned cuts to the news agency on 21 October.

Iannone said affected employees would be informed in the coming days.

Why eBay Is Shifting Its Business Strategy

The job cuts come as eBay focuses on authenticated luxury goods, collectibles and refurbished products. These categories attract enthusiasts willing to pay more for valuable items, helping the marketplace distinguish itself from competitors.

In the memo, Iannone wrote: 'Our strategy is working.'

He added that 'continuing to capture the significant opportunity ahead requires us to make thoughtful choices about where we focus and invest.'

The comments suggest that eBay intends to concentrate its resources on areas it considers most promising for growth. The company has not publicly linked the latest job cuts to any specific product category.

Shares Rise Nearly 40% Despite Layoffs

The planned redundancies come as eBay's shares have risen nearly 40% in 2026, compared with a gain of around 12% for the S&P 500, according to Reuters.

The company has also reported strong business growth. In the second quarter of 2026, eBay recorded revenue of $3.1 billion, up 15% year on year, while gross merchandise volume (GMV) rose 15% to $22.4 billion. GMV measures the total value of goods sold through the marketplace.

Growth was even stronger across eBay's focus categories, with their combined GMV rising 26% year on year, according to eMarketer. Meanwhile, GMV from eBay Live, the company's live-shopping service, increased roughly eightfold. These results provide context for the job cuts, although eBay has not said that growth in these areas directly prompted the restructuring.

eBay's shares rose around 1% in early trading on 21 October following news of the planned cuts, Reuters reported.

In August, eBay forecast third-quarter revenue above Wall Street estimates. The company is scheduled to report its latest results on 28 October, offering investors a further update on its financial performance and outlook.

Depop Deal Strengthens eBay's Resale Ambitions

eBay has also expanded its position in the second-hand fashion market through its $1.4 billion deal for Depop, which broadened its reach among younger consumers.

The acquisition, completed on 30 July, supports eBay's wider resale strategy, particularly in second-hand fashion. The final cash payment was $1.4 billion, including preliminary purchase-price adjustments, compared with the $1.2 billion initially announced.

However, eBay has not said that the Depop acquisition directly prompted the latest layoffs. Nor do the available figures establish that luxury sales themselves are booming, although the company has reported growth across its wider focus categories.

eBay's 28 October earnings report is expected to provide a further update on its performance and priorities.