EBay announced it is putting 800 jobs on the block. The company cut 6% of its workforce Thursday, just days after spending $1.2 billion to acquire fashion resale app Depop from Etsy.
The timing shows eBay’s urgency to compete with faster-growing rivals. While Amazon and Walmart dominate general e-commerce, newer platforms like TikTok Shop, Temu, and Shein are eating into eBay’s market share with younger consumers.
The Depop acquisition gives eBay access to Gen Z shoppers—90% of Depop’s users are under 34—but the company needs to fund that growth by cutting costs elsewhere. EBay is essentially trading current employees for future market position—a risky move that shows how intense the e-commerce competition has become. The company’s focus categories like fashion, collectibles, and car parts grew 16% last quarter, but even that growth isn’t enough to keep pace with competitors.
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EBay announced it is putting 800 jobs on the block. The company cut 6% of its workforce Thursday, just days after spending $1.2 billion to acquire fashion resale app Depop from Etsy.
The timing shows eBay’s urgency to compete with faster-growing rivals. While Amazon and Walmart dominate general e-commerce, newer platforms like TikTok Shop, Temu, and Shein are eating into eBay’s market share with younger consumers.
The Depop acquisition gives eBay access to Gen Z shoppers—90% of Depop’s users are under 34—but the company needs to fund that growth by cutting costs elsewhere. EBay is essentially trading current employees for future market position—a risky move that shows how intense the e-commerce competition has become. The company’s focus categories like fashion, collectibles, and car parts grew 16% last quarter, but even that growth isn’t enough to keep pace with competitors.
Sign up for the Entrepreneur Daily newsletter to get the news and resources you need to know today to help you run your business better. Get it in your inbox.
