EBay to Cut 1,000 Jobs, Reduce Contractors to Sharpen Focus (3)

EBay Inc. will cut about 1,000 jobs, or 9% of its full-time employees, and reduce work for outside contractors, saying staffing and expenses have outpaced growth.

The e-commerce company said it needs to be “more nimble” in the face of a “challenging” economic environment. The shares gained about 2% as the markets opened in New York on Wednesday.

“While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business,” the San Jose, California-based company said late Tuesday in a statement. “To address this, we’re implementing organizational changes that align and ...