https://www.cnbc.com/2023/02/07/ebay-layoffs-500-jobs-cut-.html
eBay is the latest major tech company to lay off workers, having announced that it will lay off 500 employees. That's roughly 4% of the workforce, and according to CEO Jamie Iannone, it's in response to the global recession of the past few months. The chief executive hopes the layoffs will prolong eBay's life and allow it to focus on areas where it can expand but has been coy about those areas.
The layoffs are the latest round of layoffs in the tech industry, with Google, Microsoft, Twitter and Meta cutting entire jobs in recent months.
Twitter cut half its workforce. Meta announced 11,000 redundancies, Microsoft let 10,000 employees go and Google axed 12,000 jobs.
Google and Microsoft can and have entered the field of AI technology, the future looks bright and will boost investor confidence. Microsoft has launched its AI version of Bing that uses the technology behind ChatGPT, while Google has announced that it is developing an AI language model to compete with ChatGPT.
Unfortunately, with eBay being an online marketplace platform, it doesn’t have the same opportunity to pivot to the latest AI tech trend. Will this spell harder times ahead for eBay?
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