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E-commerce company eBay said on Tuesday it would lay off 500 employees worldwide, representing 4% of its total workforce.
“This move gives us additional room to invest and create new functions in areas of high potential – new technologies, customer innovations, and key markets,” Jamie Iannone, Ebay’s chief executive, said in a message to employees.
Several US companies, from Goldman Sachs to Alphabet, have laid off thousands this year to cope with a slowdown in demand brought on by high inflation and rising interest rates.
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