Some contract workers will also be cut “in the coming months.”

According to The Verge, eBay will lay off about 1,000 employees during January (about 9% of the company’s total workforce), and an unspecified number of freelancers will be cut in the following months.

Last year, the e-commerce giant reported revenues of $1.3 billion in the last quarter and spoke of a “good result,” but now it says it “needs to change.”

eBay President and CEO Jamie Iannone says the company needs to be “more nimble” and “quick to make decisions” to position itself as “long-term and resilient to growth.”

“While we are making progress against our strategy, overall headcount and expenses are outpacing our business growth,” Iannone wrote.

eBay joins a number of other companies, including Google, Amazon (Twitch and Audible), Discord, Duolingo, Pixar and Unity, who have announced job cuts in January 2024.

Last February, eBay laid off 500 employees worldwide, or 4% of its total workforce.