What's Happening
eBay has announced plans to cut 800 jobs, joining other tech companies in reducing their workforce as AI reshapes the industry. This follows eBay's recent acquisition of Depop and earlier job cuts.
Market Impact
The layoffs reflect broader cost-cutting measures in the tech sector, which could lead to short-term stock volatility but potential long-term efficiency gains.
Broader Implications
The tech industry's ongoing restructuring due to AI advancements signals a shift in job markets and workforce dynamics globally.