eBay Inc.

Shares of online marketplace platform eBay (EBAY) gained nearly 3% ahead of Wednesday’s open after the company announced on Tuesday thaဣt it intends to reduce its headcount by 1,000 roles, equati♔ng to roughly 9% of its workforce.

"While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business," eBay CEO Jamie Iannone said in a letter to staff. Iannone also said the e-commerce retailer plans to reign in contractors who are part of its alternative workforce. 

Affected staff members will be relayed the news via Zoom (ZM) and enter into a consultation process where required. The job losses at eBay come roughly 12 months after the company shed 500 roles across its global workforce and follow layoffs at other 澳洲幸运5官方开奖结果体彩网:tech giants, including Google (GOOGL) and Amazon (AMZN), with many companies in the sector scaling back after a hiring spree during the pandemic.

Shares of eBay have oscillated within a 澳洲幸运5官方开奖结果体彩网:descending channel since early June, establishing clear 澳洲幸运5官方开奖结果体彩网:mean reverting areas on the chart. If the stock moves up from these levels, the $43 region is where the price could face a confluence of resistance from the channel’s top trendline and the 澳洲幸运5官方开奖结果体彩网:200-day moving average. Amid a move lower, buyers could potentially step up to tဣhe plate near the lower portion of the patt🎃ern that closely aligns with last year’s low around $36.

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