What's Happening
eBay announced it will lay off 800 employees, joining other tech companies in reducing workforce as AI reshapes the industry. This follows eBay's recent acquisition of secondhand-clothing site Depop.
Market Impact
The layoffs could lead to short-term cost savings and potentially stabilize eBay's stock, but they also reflect broader challenges in the tech sector.
Broader Implications
The move underscores the ongoing transformation in the tech industry as companies adapt to AI-driven changes, impacting employment and business strategies.