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☆ Temu and Shein's soaring popularity has Wall Street eyeing China's influence on tech earnings
▼ + stars: | 2024-07-29 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +9 min

The topic of Temu and Shein's growth will hover over tech earnings this week, as Amazon reports second-quarter results alongside Meta, eBay and Etsy. watch nowIn Amazon's report on Thursday, the company is expected to show revenue growth of about 11% to $148.6 billion, according to LSEG. That's where Temu and Shein come into play, as merchants now have new ways to get products to American consumers. Amazon has continued to highlight its delivery prowess and its focus on speed in the face of growing competition from Temu and Shein. However, while it's long touted itself as the "lowest-priced U.S. retailer," Amazon has shown that it's well aware of Temu and Shein's increasing popularity.

Persons: Stefani Reynolds, David Zapolsky, Zapolsky, it's, Shein, Andy Jassy, Jassy, It's, Angus Mordant, Temu, Meta, Susan Li, Jamie Iannone, Etsy, Amazon, Amazon's Zapolsky Organizations: Apple, CNBC, Afp, Getty, eBay, Meta, Etsy, Tech, YouTube, Microsoft, Intel, Qualcomm, Google, PDD Holdings, Amazon, European Union, Bloomberg, Barclays, Finance, EBay, Bank of America, Walmart Locations: U.S, China, Temu, New York, Asia, Pacific, San Francisco, Singapore

☆ Ebay CEO: We'll turn to positive growth in Q3 or Q4 of this year
▼ + stars: | 2024-05-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEbay CEO: We'll turn to positive growth in Q3 or Q4 of this yeareBay CEO Jamie Iannone joins 'Squawk on the Street' to discuss why the company's guidance was below Wall Street expectations, if there's a weakness in the business that needs to be communicated and more.

Persons: Jamie Iannone Organizations: Ebay

☆ As the CEO of eBay, I keep employees productive by asking this simple question about our work
▼ + stars: | 2024-03-26 | by ( Madeline Stone | ) www.businessinsider.com time to read: +8 min

Jamie Iannone, the CEO of eBay, says the company is using AI to boost efficiency and creativity. After getting this direct feedback, our product teams developed tools powered by AI, including a description generator and an image-based listing flow. eBay is using AI to drive the company forwardeBay has been using AI for years. We also know that happy employees are more productive employees. We take this responsibility very seriously because millions of sellers count on eBay to make them more productive.

Persons: Jamie Iannone, —, we've, they'll, We're, We've Organizations: eBay, Service

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. Political Cartoons View All 253 ImagesSan Jose, California-based eBay is the latest tech company to roll out a series of layoffs after quickly ramping up hiring during the COVID-19 pandemic while people spent more time and money online. Meanwhile, Amazon said this month that it is cutting several hundred jobs in its Prime Video and MGM Studios unit. Other tech companies, including Spotify, Microsoft, Meta and IBM, also have recently cut jobs.

Persons: Jamie Iannone, Iannone, ”, TikTok, Amazon, ” Iannone Organizations: —, eBay Inc, eBay, Google, Riot Games, “ League, MGM Studios, Spotify, Microsoft, Meta, IBM, Justice Department Locations: Jose , California, Massachusetts

☆ eBay is laying off 1,000 employees — about 9% of its workforce. Read the memo its CEO sent to staff.
▼ + stars: | 2024-01-24 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

eBay is cutting 1,000 jobs — a reduction of about 9% of its workforce. CEO Jamie Iannone told employees in a memo Tuesday that it would make the latest round of layoffs so it could be "more nimble." Iannone pointed to its expenses and headcount eclipsing the growth of its business in the memo shared on the company website. While we are making progress against our strategy, our overall headcount and expenses have outpaced the growth of our business." Read the full memo the CEO sent to employees below.

Persons: Jamie Iannone, Iannone Organizations: Service, eBay, Google, Amazon, Prime, MGM Studios

☆ EBay to eliminate about 1,000 jobs, or 9% of full-time workforce
▼ + stars: | 2024-01-23 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

EBay said Tuesday that it plans to lay off 9% of the company's workforce, equal to about 1,000 full-time jobs, as the tech industry continues to downsize to start 2024. Iannone said the job cuts are necessary because eBay's "overall headcount and expenses have outpaced the growth of our business." Following hefty job cuts last year, tech companies have continued to eliminate positions in January as concerns about consumer and business spending persist. Regarding eBay's cuts, Iannone said he wants employees to work from home on Jan. 24, "to provide some space and privacy for these conversations." EBay shares dropped about 4% in November after the company provided fourth-quarter revenue guidance that trailed Wall Street estimates.

Persons: Jamie Iannone, Iannone, Jim Cramer Organizations: EBay, SAP, eBay, Wall Locations: downsize, Europe

☆ eBay is laying off 1,000 employees, about 9% of its staff
▼ + stars: | 2024-01-23 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —eBay is cutting 1,000 roles, about 9% of its full-time employees, the company’s CEO announced online Tuesday. CEO Jamie Iannone cited the “challenging macroeconomic environment” as an external pressure but added that there are factors the company can control. “We’re committed to treating everyone with respect and empathy through this transition and providing impacted employees with support and resources,” Iannone said. The eBay action is the latest round of layoffs to hit the tech industry in the first month of 2024, after an already difficult 2023 for the sector. Almost 11,000 tech employees have been laid off at 63 companies so far in 2024, according to data from layoffs.fyi.

Persons: Jamie Iannone, Iannone, ”, “ We’re, ” Iannone, Sundar Pichai, ” Duolingo, Brian Fung, Jennifer Korn, Clare Duffy, Catherine Thorbecke Organizations: New, New York CNN, eBay, Google Locations: New York, layoffs.fyi

☆ eBay to pay $3 million after former employees sent live insects and a bloody pig mask to harass a couple
▼ + stars: | 2024-01-11 | by ( Samantha Delouya | ) edition.cnn.com time to read: +3 min

New York CNN —eBay will pay a $3 million criminal penalty for a harassment campaign, including sending live cockroaches, of a Massachusetts-based couple who ran a newsletter that was sometimes critical of the company. eBay was charged with six criminal offenses, including stalking, witness tampering and obstruction of justice, after several of the company’s employees sent disturbing packages to the home of Ina and David Steiner in 2019, including a bloody pig mask, a fetal pig, live insects and a funeral wreath. “The company’s employees and contractors involved in this campaign put the victims through pure hell, in a petrifying campaign aimed at silencing their reporting and protecting the eBay brand,” Levy said. According to the US attorney’s statement, eBay employees, including Jim Baugh, eBay’s senior director of safety and security at the time, were frustrated with the tone of the Steiners’ newsletter, which aimed to provide information to eBay sellers. eBay said it terminated all involved employees in 2020, including the company’s former chief communications officer.

Persons: Ina, David Steiner, Joshua Levy, ” Levy, Jamie Iannone, ” Iannone, Jim Baugh, eBay’s, “, Baugh, Levy, ” Organizations: New, New York CNN, eBay, Massachusetts US, DOJ, Craigslist Locations: New York, Massachusetts

☆ EBay forecasts fourth-quarter results below estimates on weak consumer spending
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 7 (Reuters) - Ebay (EBAY.O) forecast fourth-quarter revenue and profit below Wall Street estimates on Tuesday and joined other e-commerce platforms in sounding the alarm on weaker-than-expected consumer spending. EBay forecast current-quarter revenue in the range of $2.47 billion to $2.53 billion, compared with estimates of $2.60 billion, according to LSEG data. The company also expects current-quarter adjusted profit per share in the range of $1 to $1.05, compared with estimates of $1.04. Third-quarter revenue rose 5% to $2.50 billion, in line with Wall Street expectations, as the company saw an uptick in demand for refurbished goods. On an adjusted basis, eBay earned $1.03 per share, compared with estimates of $1.

Persons: Dado Ruvic, Jamie Iannone, Jefferies, D.A, Tom Forte, Chavi Mehta, Shounak Dasgupta Organizations: eBay, REUTERS, Ebay, Wall, Amazon, Davidson &, EBay, Thomson Locations: Jose , California, Europe, United States, Bengaluru

☆ CEO of eBay lays out his master plan to fend off new rivals like TikTok and Shein with AI and live-shopping features
▼ + stars: | 2023-07-29 | by ( Madeline Stone | ) www.businessinsider.com time to read: +5 min

Jamie Iannone, eBay's CEO, spoke with Insider about the next phase in the e-commerce giant's evolution. Iannone said eBay's size would empower it against emerging competitors such as TikTok and Shein. But the number of new eBay buyers grew for the second straight quarter, Iannone said. The next version of that product is set to use image recognition, allowing eBay's sellers to create a product listing based on a photo. When asked about new competitors such as TikTok, Shein, and Temu, Iannone said eBay was "focused on our strategy and how we win."

Persons: Jamie Iannone, Iannone, what's, we've Organizations: eBay, Walmart, Reuters, Brand Locations: China

☆ EBay forecasts upbeat revenue as sneakers, refurbished items drive growth
▼ + stars: | 2023-04-26 | by ( Yuvraj Malik | ) www.reuters.com time to read: +2 min

The upbeat results soothed investor sentiment, which was hit after eBay earlier this year said that demand weakness will persist in the first half of 2023. EBay is expanding listings under refurbished electronics, luxury bags and watches, and the collectibles category. San Jose, California-based eBay now expects June-quarter revenue in the range $2.47 billion to $2.54 billion, higher than analysts' projection of $2.43 billion, according to Refinitiv. Revenue in the most recent March quarter grew 1% to $2.51 billion, also beating analysts' estimate of $2.48 billion. EBay's shares have gained 4.6% so far this year, compared with a 13.3% rise in the tech-heavy Nasdaq index (.IXIC).

☆ Ebay plans to lay off 500 employees, about 4% of its workforce
▼ + stars: | 2023-02-07 | by ( Ashley Capoot | ) www.cnbc.com time to read: 1 min

Ebay on Tuesday announced plans to cut 500 jobs, or about 4% of its workforce, according to a filing with the SEC. Shares of eBay were up slightly in extended trading Tuesday. In a memo to employees, CEO Jamie Iannone said the company decided to make cuts after examining the global macroeconomic environment over the past several months. He said the cuts will strengthen eBay's ability to deliver better experiences for its customers, and it will help eBay focus on areas where it can make the most impact.

☆ Ebay to lay off 500 employees
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: 1 min

Feb 7 (Reuters) - E-commerce firm eBay Inc (EBAY.O) said on Tuesday it will lay off 500 employees globally, representing 4% of its total workforce. Shares of the San Jose, California-based company rose about 1% in aftermarket trade. "This shift gives us additional space to invest and create new roles in high-potential areas - new technologies, customer innovations and key markets," said Jamie Iannone, Chief Executive Officer of Ebay in a message to employees. A raft of U.S. companies from Goldman Sachs Group Inc (GS.N) to Alphabet Inc (GOOGL.O) have laid off thousands this year to ride out a demand downturn wrought by high inflation and rising interest rates. Reporting by Chavi Mehta and Shreyaa Narayanan in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ EBay's focus on luxury to refurbished goods drives results beat
▼ + stars: | 2022-11-02 | by ( Nivedita Balu | ) www.reuters.com time to read: +2 min

[1/2] The eBay logo is pictured on a phone screen in this photo illustration in New York, U.S., July 23, 2019. REUTERS/Brendan McDermid/IllustrationNov 2 (Reuters) - EBay Inc's (EBAY.O) quarterly results beat Wall Street targets on Wednesday as inflation-wary shoppers snapped up refurbished goods and the ecommerce platform reaped the benefits of expanding its luxury offerings. The company still forecast holiday-quarter revenue slightly below estimates, but investors looked past that to drive up its shares nearly 8% in extended trading. The energy crisis has pushed up demand for home energy products in Germany though, they said, due to rising utility prices and uncertainty around energy availability. The midpoint of eBay's holiday-quarter revenue forecast of $2.42 billion to $2.50 billion came in slightly below analysts' expectations of $2.49 billion, according to Refinitiv data.

The back half of the earnings season gets underway this week, with key companies across different sectors set to report. FactSet data shows that slightly more than 70% of the S & P 500 that have reported earnings have beaten earnings expectations. Tuesday Advanced Micro Devices is set to report earnings after the bell, followed by a conference call at 5 p.m. Wednesday Yum Brands is set to report earnings before the bell, with management holding a call at 8:15 a.m. EBay is set to report earnings after the bell, followed by a call at 5 p.m.

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