Online retailer eBay is cutting 1,000 jobs. It's the latest tech company to reduce its workforce

LONDON (AP) — Online retailer eBay Inc. will cut about 1,000 jobs, or an estimated 9% of its full-time workforce, saying its number of employees and costs have exceeded how much the business is growing in a slowing economy. It marks the latest layoffs in the tech industry.

CEO Jamie Iannone said in a message to employees on Tuesday that the company also will reduce how many “contracts we have within our alternate workforce over the coming months.”

“We need to better organize our teams for speed — allowing us to be more nimble, bring like-work together, and help us make decisions more quickly,” he said in the note, which was posted online.