eBay is reducing its workforce by approximately 800 positions, equating to 6% of its full-time staff.

“We are implementing measures to reinvest throughout our organization and adjust our structure in alignment with our strategic goals, which will impact certain positions within our team,” the firm stated. “We appreciate the contributions of the employees affected and are dedicated to assisting them with dignity and consideration.”

Bloomberg was the first to break this story.

This decision follows a week after eBay announced its acquisition of Depop, a second-hand apparel application favored by Gen Z and millennials, from Etsy for $1.2 billion in cash.

Last week, eBay disclosed its fourth-quarter performance, reporting a 15% growth in revenue to $3 billion, surpassing analyst predictions.

This instance of layoffs is the third such action taken by eBay in the last three years. In early 2024, it reduced its staff by 1,000 employees, or roughly 9% of its workforce. Earlier in 2023, it dismissed about 500 workers, equivalent to about 4% of its total headcount.