Team,
We're on a journey to build a stronger eBay for the future – a company that grows and meets all challenges. Over the last three years, we've fundamentally transformed our experience across all categories and accelerated the pace of innovation at eBay. In the areas where we invest, we are seeing a steady increase in customer satisfaction and a significant improvement in our growth compared to the market.
Our strategy is right, but we can do more to ensure our success. We need to better organize our teams to be faster. This allows us to be more flexible, bring like-minded people together and make decisions more quickly. Today I'm sharing news about changes we're implementing to better position eBay for long-term, sustainable growth.
The most significant and difficult of these decisions is to reduce our current workforce by approximately 1,000 positions, or an estimated 9% of full-time employees. In addition, we plan to reduce the number of contracts we have within our replacement workforce in the coming months. These are not measures we take lightly – and we recognize the impact they will have on all eBay users. We have to say goodbye to people who have made so many important contributions to the eBay community and culture, and that's not easy.
The need for change
Even though we face external pressures such as the difficult macroeconomic environment, we know that we can manage the factors under our control better. As we make progress toward our strategy, our total headcount and expenses are outpacing the growth of our business. To address this issue, we are implementing organizational changes that align and consolidate specific teams to improve the end-to-end experience and better serve the needs of our customers around the world.
Next Steps
We will shortly begin notifying employees whose roles have been eliminated and begin a consultation process in the areas required. Leaders communicate the news directly via Zoom and your VP or eLT member sends an email once notifications are complete in their group.
We are asking all US employees to work from home on January 24th to provide some space and privacy for these conversations. We are committed to treating everyone with respect and compassion during this transition and providing support and resources to affected employees.
looking ahead
These changes are difficult, but I am confident that by working together we will become stronger than ever. In the coming months, you'll see a more focused, agile and responsive eBay – one that's better positioned to advance our goal of creating economic opportunity for all.
Thank you very much,
Jamie