eBay is shifting its organization in an effort to increase its growth trajectory. The company’s geographical regions—including the Americas, Asia-Pacific, the U.K., and Central and Southern Europe—will now all report to Jay Lee, eBay’s SVP and GM for markets. TechCrunch reported that the company will be laying off a “percentage” of its global workforce, citing a tweet that put the number at 400 employees worldwide. (TechCrunch)
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eBay is shifting its organization in an effort to increase its growth trajectory. The company’s geographical regions—including the Americas, Asia-Pacific, the U.K., and Central and Southern Europe—will now all report to Jay Lee, eBay’s SVP and GM for markets. TechCrunch reported that the company will be laying off a “percentage” of its global workforce, citing a tweet that put the number at 400 employees worldwide. (TechCrunch)
Talking point: eBay has been struggling for several years in a market dominated by Amazon, and it’s taken several steps to carve its niche and compete. The e-commerce marketplace plans to stop using PayPal as its main payment provider by 2020 in a bid to control customers’ checkout experience in the same way as Alibaba and Amazon, and it’s facing pressure from activist investors to focus more on its core marketplace. Marketplace startups are generally challenging; Toronto-based VarageSale—which previously raised $34 million with Sequioa as a lead investor—was acquired by VerticalScope, which owns niche online forums, in 2017 after failing to monetize.
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