EBay announced that it will cut 500 jobs, or about 4% of its total workforce.

On the morning of February 8, Beijing time, it was reported that eBay announced plans to cut 500 jobs, or about 4 per cent of its workforce, according to documents filed with the US Securities and Exchange Commission (SEC) on Tuesday, local time.

Subsequently, eBay shares rose slightly in after-hours trading.

In a memo to employees, Jamie Iannone, chief executive, said the company had decided to cut jobs after studying the global macroeconomic environment over the past few months. The layoffs will strengthen eBay's ability to provide customers with a better experience and will help eBay focus on areas that can have the greatest impact, he said.

"importantly, this shift gives us additional space to invest and create new social roles in high potential areas-new technologies, customer innovation and key markets-and continue to adapt to changing macro, e-commerce and technology areas," Ian wrote in the internal memo.

Affected employees will be notified within the next 24 hours, he said.

The company's layoff announcement marks the latest round of layoffs in the technology industry, and Zoom announced plans to cut about 1300 jobs on Tuesday. In January this year, Google announced plans to cut more than 12000 jobs, Microsoft announced plans to cut 10, 000 jobs, and Salesforce announced plans to cut 7000 jobs.