eBay Cuts 9% of Its Workforce and Says Q3 Will Beat Its August Guidance

eBay confirmed in a Form 8-K filed on Thursday, October 22, 2026, that it will cut about 9% of its global workforce. The same filing says its third-quarter results will come in above the guidance ranges it gave in August. A company spokesperson told Reuters the cut covers roughly 1,000 employees. eBay shares closed at $122.04, down 0.70% from $122.90, on a day the Nasdaq Composite fell 2.60%.

What the 8-K says about the job cuts

eBay announced the plan on October 20, and Reuters reported chief executive Jamie Iannone's memo to staff on October 21. The filing puts the cost at $130 million to $150 million in pre-tax charges under generally accepted accounting principles (GAAP), almost all of it severance and post-employment benefits. Most of the charge will be booked in the fourth quarter of 2026, and all of it will be paid in cash. Spread over roughly 1,000 roles, it comes to about $130,000 to $150,000 per person.

The cuts should be substantially complete by the end of the first quarter of 2027, subject to local labor law and consultation rules. eBay says the savings will fund its strategic and operating priorities, and the filing gives no figure for them.

Why a layoff filing also previews the quarter

The earnings statement sits under Item 2.02 of the 8-K, the section companies use for results of operations. That puts the expectation on the public record six days before eBay reports on October 28. The filing gives no numbers and does not say which lines will beat. These are the ranges eBay set on August 5 for the quarter that ended September 30:

GMV is the total value of goods sold through eBay's marketplaces. Non-GAAP EPS is eBay's adjusted measure, which leaves out some costs that GAAP counts. The August ranges already counted Depop, the resale marketplace eBay bought from Etsy. That deal closed on July 30, and eBay paid $1.4 billion in cash, including preliminary price adjustments, against the $1.2 billion price agreed in February.

The second job cut this year

In February eBay cut about 6% of its staff, roughly 800 people, after it agreed to buy Depop. The company had 12,300 employees at the end of 2025. The two rounds together come to about 1,800 roles in eight months.

How eBay stock moved

1. October 21, 07:49 ET. The first report of the memo reached the MoveSurge news feed before the open. eBay traded at $121.00 in premarket trading and was flat ten minutes later.
2. October 22, 09:09:07 ET. The 8-K confirmation reached the feed. Premarket trading was thin, about 3,800 shares in ten minutes, and the price went from $126.00 to $121.96.
3. October 22, 09:34:17 ET. A second report of the cut crossed four minutes after the open. The stock went from $122.22 to $121.89 (-0.27%) in one minute. It stood at $122.46 (+0.20%) after ten minutes and $122.50 (+0.23%) after 15 minutes on the chart above.
4. October 22, close. $122.04, down 0.70% on the day.

The whole market fell that day. The S&P 500 lost 1.21%, the Nasdaq Composite lost 2.60% and Amazon lost 4.57% as worries about artificial intelligence spending hit technology shares after Meta Platforms' results. Other news may also have affected eBay's price.