EBay to Cut About 1,100 Jobs, or 9% of Workforce, in Restructuring Push

EBay Inc. (EBAY) plans to eliminate about 1,100 jobs, or 9% of its workforce, as the online marketplace reorganizes operations and redirects investment toward faster-growing businesses, Reuters reported Wednesday, citing an internal memo from CEO Jamie Iannone. Affected employees are expected to be notified in the coming days. The move follows the company's decision to cut around 800 jobs, or 6% of its workforce, in February as part of an earlier restructuring effort. eBay had 12,300 employees at the end of last year. In pre-market trading on the Nasdaq, eBay shares were down 0.28% after closing at $121.19 on Tuesday.