eBay layoffs: Hundreds of jobs slashed with stock riding high. ‘Our strategy is working,’ says CEO

The e-commerce giant eBay (Nasdaq: EBAY) will undertake its second round of mass layoffs this year. Yesterday, the popular online marketplace reportedly said it is preparing to lay off about 1,000 employees, or roughly 9% of its workforce. The additional layoffs, following a round of layoffs early this year, come at a time when eBay is in the middle of a strategic shift that has boosted its stock price. What’s happened? The CEO of eBay, Jamie Iannone, sent a memo to staff informing them...